13th Jun 2019 13:21
(Alliance News) - London-listed infrastructure investment company BBGI SICAV SA on Thursday said it has bought a further equity interest in a Netherlands road project.
BBGI said it bought more of the A1/A6 PPP road project but didn't specify the size of its stake either before or after. The road project was part of the Schiphol-Amsterdam-Almere expansion and involved the reconstruction and widening of a 18 kilometer motorway including reversible lanes.
The project became operational in 2017 and the concession runs until 2042.
In May, BBGI increased its stake in the Ohio River Bridges - East End Crossing private-partnership project to 67%. The infrastructure project included construction of 762-metre cable-stayed bridge over the Ohio River, connecting the US state of Kentucky to Indiana.
The combined consideration for the two projects together - the Netherlands road project and the Ohio bridge project - is around GBP58 million, BBGI said, and this will be funded from the company's existing cash and credit facility.
"The acquisition was made on accretive terms. This transaction follows our purist approach to investing in low-risk, availability-based projects." said BBGI Co-CEO Duncan Ball.
Shares in the company were trading 0.3% lower at 160.50 pence each on Thursday afternoon in London.
Related Shares:
BBGI Global Infrastructure