British Columbia Investment Management Corporation (“BCI”) announced a recommended takeover offer for BBGI Global Infrastructure S.A. (“BBGI”) at 147.5p per share in cash, valuing the entire issued and to be issued share capital of BBGI at £1.1 billion.
The acquisition will provide BCI with an attractive portfolio of availability-based, operating concession assets in stable and well-developed markets providing a platform for future growth. The investment will be made by BCI’s Infrastructure & Renewable Resources program, which invests in tangible long-life assets that include a portfolio of direct investments in companies across a variety of sectors. Under BCI’s ownership, BBGI is expected to benefit from BCI’s expertise in infrastructure, global relationships, and access to long-term capital that allows for continued investment in new, value-accretive investments.
RBC Capital Markets Acts as a joint financial adviser, arranger and underwriter to British Columbia Investment Management Corporation on this transaction.
