TIDMBBGI
RNS Number : 3734E
BBGI Global Infrastructure S.A.
07 July 2021
7 July 2021
BBGI Global Infrastructure S.A.
("BBGI" or the "Company")
Agreement to acquire three social infrastructure investments in
the UK
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 interests in three social
infrastructure investments in the UK consisting of a 33.33%
interest in the Aberdeen Western Peripheral Route, a 100% interest
in Ayrshire and Arran Hospital, and a 100% interest in North West
Fire & Rescue. Each asset is classified as availability-based
under the investment policy of the Company and aligns with BBGI's
ESG principles.
Aberdeen Western Peripheral Route
Encompasses the design, construction, financing, operations and
maintenance of 12 km of the existing roadway (upgraded) and 47 km
of new dual carriageway including two significant river crossings.
The final section of the road opened in 2019 and the concession
runs until 2047. The project was developed in compliance with
strict EU environmental legislation and has reduced congestion in
Aberdeen by approximately 46% and HGV traffic on local routes by
approximately 55%. Availability payments are received from the
Scottish Ministers. The completion of this acquisition is subject
to final funder clearance, which is expected imminently.
Ayrshire and Arran Hospital
Consists of the design, construction, financing and maintenance
of a 206-bed acute mental health facility and community hospital in
Irvine, North Ayrshire, Scotland. The hospital became operational
in 2016 and the concession runs until 2041. The facility has
significantly increased the availability of and access to mental
health services and treatment in the region. The facility was
awarded a BREEAM* rating of Very Good and is equipped with low or
zero carbon heating and power technology. Availability payments are
received from the Ayrshire and Arran Health Board and is backed by
the Scottish Government. The completion of this acquisition
occurred on 6 July 2021.
North West Fire & Rescue
Consists of the design, construction, financing, maintenance and
rehabilitation of 16 new community fire stations in the North West
of England located at various sites in Merseyside (7), Lancashire
(4) and Cumbria (5). The facilities became fully operational in
2013 and the concession runs until 2038. The facilities play an
integral role in delivering fire safety and protection to more than
500,000 people in the local communities. The facilities were
awarded a BREEAM* rating of Very Good and sustainability measures
have been integrated into the buildings. Availability payments are
received from the Cumbria County Council, Lancashire Combined Fire
Authority and Merseyside Fire and Rescue Authority. The completion
of this acquisition occurred on 6 July 2021.
The purchase price for the three investments is confidential at
this time. The consideration for the interests is being funded from
drawing upon the Company's new GBP230 million corporate revolving
credit facility, announced on 1 June 2021 and existing cash
resources.
Following completion, BBGI will own a globally diversified
portfolio of 54 infrastructure investments in the tran sport,
healthcare, education, blue light (i.e. fire and police stations)
and other services sectors which are geographically located in
Australia, Canada, Continental Europe, the UK and the US. The
Company seeks to limit and reduce investment risk where possible,
with the current portfolio benefitting from 100% availability-based
assets of which 99% are operational. The Company also maintains a
diversified supply chain in regard to facilities management and
operational and maintenance contractors.
Commenting, Co-CEOs Duncan Ball and Frank Schramm said:
"We are delighted to invest in these high-quality,
availability-based social infrastructure assets in the UK with
strong ESG credentials. Our strategy is to remain disciplined and
selective in our approach to acquisition opportunities by only
investing in availability-based assets that also align with our ESG
principles, and not in higher risk infrastructure asset
classes."
* Building Research Establishment Environmental Assessment
Method
FOR FURTHER INFORMATION, PLEASE CONTACT:
BBGI Management Team +352 263 479-1
Duncan Ball
-----------------------------
Frank Schramm
-----------------------------
Maitland/AMO (Communications
adviser) +44(0) 7747 113 930
-----------------------------
James Benjamin BBGI-maitland@maitland.co.uk
-----------------------------
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQRFMLTMTIMBRB
(END) Dow Jones Newswires
July 07, 2021 02:00 ET (06:00 GMT)
Bbgi Global Infrastructure (LSE:BBGI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Bbgi Global Infrastructure (LSE:BBGI)
Historical Stock Chart
From Apr 2023 to Apr 2024