29th Jul 2015 09:36
LONDON (Alliance News) - Investment vehicle BBGI SICAV SA on Wednesday said it has signed a deal with John Graham Holdings Ltd to acquire two public-private partnership projects in Northern Ireland.
BBGI SICAV said it has acquired John Graham's 100% equity stakes in the Belfast Metropolitan College and North West Regional College projects in the country. Both projects are operational and the concessions on the contracts run until August 2027 for Belfast Metropolitan and January 2026 for North West Regional.
It will pay GBP11.7 million to acquire the projects.
"Having already completed several acquisitions from the Graham Group in the past, we are delighted to secure this opportunity to invest in these high quality projects," said BBGI SICAV Co-Chief Executive Frank Schramm.
Shares in BBGI SICAV were trading flat at 121.50 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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