TIDMBBGI

RNS Number : 5064F

BBGI Global Infrastructure S.A.

17 November 2020

17 November 2020

BBGI Global Infrastructure S.A.

("BBGI" or the "Company")

Acquisition of interest in Signature on the Saint-Lawrence Group

BBGI Global Infrastructure S.A. (LSE ticker: BBGI), the global infrastructure investment company, is pleased to announce it has entered into an agreement to acquire a 25% equity interest in Signature on the Saint-Lawrence Group, the operator of the Samuel De Champlain Bridge Corridor in Montreal, Quebec, Canada. The Government of Canada is the owner of the bridge.

The project originally consisted of the design, construction, financing, operation, maintenance and rehabilitation of a new bridge spanning the St. Lawrence River between Montreal and Brossard, Quebec. The bridge opened to traffic in summer 2019 and the concession runs until 2049. The asset is classified as availability-based under the investment policy of the Company. Availability payments are received from the Government of Canada, which is rated AAA by both Moody's and S&P credit rating agencies.

The award-winning bridge serves not only as a link between Montreal and the south shore communities, but also as Eastern Canada's gateway to US trade corridors, improving travel efficiency and safety, whilst creating local jobs.

Duncan Ball, Co-CEO of BBGI, commented:

"We are delighted to make this investment into Signature on the Saint-Lawrence, the operator of a high-profile infrastructure asset which is an essential component of Canada's international trade corridor. Locally, more than 11 million public-transit users, pedestrians and cyclists use the corridor to cross the St. Lawrence River each year."

Frank Schramm, Co-CEO of BBGI, said:

"Our 50(th) infrastructure asset investment is such a signature project. Not only is the bridge built to the highest technical and functional standards, but it is already recognised for its aesthetic achievement. The bridge has been built to provide a 125-year design life and received the Envision Platinum award from the Institute of Sustainable Infrastructure. It is only the second bridge in North America to earn the Envision Award. The project will improve travel efficiency and safety and has created jobs for local workers."

The completion of the acquisition is subject to Government of Canada consent and the satisfaction of certain conditions precedent.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 
 BBGI Management Team             +352 263 479-1 
 Duncan Ball 
                                 ----------------------------- 
 Frank Schramm 
                                 ----------------------------- 
 
 Maitland/AMO (Communications 
  adviser)                        +44(0) 20 7379 5151 
                                 ----------------------------- 
 James Benjamin / Jason Ochere    BBGI-maitland@maitland.co.uk 
  / Rhys Jones 
                                 -----------------------------

NOTES

BBGI Global Infrastructure (BBGI) is a responsible infrastructure investment company and a constituent of the FTSE 250 that invests in and actively manages for the long-term a globally diversified, low-risk portfolio of essential social infrastructure investments.

BBGI is committed to delivering stable and predictable cash flows with progressive long-term dividend growth and attractive, sustainable, returns for shareholders. BBGI has a proactive approach to preserving and enhancing the value of its investments, and to delivering well maintained social infrastructure for communities and end users, whilst serving society by supporting local communities.

All of BBGI's investments are availability-based and supported by secure public sector-backed contracted revenues, with inflation-protection characteristics, that is paid so long as the assets are available for use.

BBGI's investment portfolio is over 99% operational with all its investments located across highly rated investment grade countries with stable, well developed operating environments.

BBGI's in-house management team is incentivised by shareholder returns and consistently maintains low comparative ongoing charges to shareholders.

Further information about BBGI is available on its website at www.bb-gi.com*.

The Company's LEI: 529900CV0RWCOP5YHK95

Any reference to the Company or BBGI refers also to its subsidiaries (where applicable).

* Neither the Company's website nor the content of any website accessible from hyperlinks on its website (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of this announcement.

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END

ACQUBURRRAUAARA

(END) Dow Jones Newswires

November 17, 2020 02:00 ET (07:00 GMT)

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