Share Price.com
Market Update Economic Events Directors Deals Commodities Prices News Market Movers

BBGI increases stake in Netherlands road project for £58m

Thursday, 13th June 2019
Infrastructure investment company BBGI SICAV company acquired a further stake in the A1/A6 public private partnership road project in the Netherlands for £58m.

'The company acquired two significant project interests over the last month being the 33.3% interest in the Ohio River Bridges - East End Crossing PPP Project, which was announced on 16 May 2019; and its interest in this A1/A6 project,' BBGI said.

The combined consideration for both projects was approximately £58m, which would be funded from the company's existing cash resources and drawings under its credit facility.

The project was part of the Schiphol-Amsterdam-Almere expansion and involved the reconstruction and widening of a 18 km motorway including reversible lanes. The project became operational in 2017 and the concession runs until 2042.

'This acquisition further strengthens the global footprint of our porfolio of investments in AAA/AA rated countries. Given our existing involvement with this project, no additional management resources will be needed to oversee the incremental investment, helping to contribute to BBGI's low on-going charge,' said Frank Schramm, Co-CEO.



Story provided by StockMarketWire.com

Related Shares: Bbgi Sicav

Share Search
Share Search Share Search

Visit the Share Search.
Share Search

Share News
Share News



SharePrice.com will do their best to ensure the quality of the information displayed on this site, but all information is provided as-is, free of charge. We cannot be held responsible for any loss, material or otherwise, due to incorrect information found here. UK data supplied by NBTrader and Digital Look. Share Prices are at least 15 minutes delayed.