BBGI announces the acquisition of the M1 Westlink in Belfast
Bilfinger Berger Global Infrastructure SICAV S.A. (BBGI) has announced the completion of the acquisition of the M1 Westlink PPP project in Belfast, UK.
BBGI has acquired the remaining 25% of the equity and subordinated debt. The acquisition was funded from the company's existing cash resources following the £145 million capital raise which completed on 11 December 2013.
In last- December 2013 we published that BBGI announced that it had signed an agreement with Graham Investment Projects Limited to acquire additional equity and subordinated debt interests in the DBFO-1 Road Service (M1 Westlink) in Northern Ireland.
M1 Westlink is a long term concession to design, upgrade, finance and operate the M1 Westlink road scheme. The project commenced in April 2006 and required a significant amount of construction work to upgrade key sections of the existing road network. This consisted of approximately 60km of motorway and a short section of linking dual carriageway through the heart of Belfast. The project was completed approximately six months ahead of schedule in November 2009. The concession expires in 2036 and is availability-based with no volume risk.
BBGI own a portfolio of 35 infrastructure assets. These projects are PPP / PFI assets and are supported by contracted, public sector-backed revenue streams, with inflation-protection characteristics.
Country news
-
-
June 12, 2014
Laing O'Rourke appoints Group Technical Director
Laing O'Rourke has announced the appointment of Paul Westbury as Group Technical Director who will have global responsibility for Laing O'Rourke's technical and engineering functions, including the Engineering Excellence Group; and will lead the development of the Group's design and engineering offering to underpin the organisation's growth strategy. Read more -
June 12, 2014
First State Investments launches fifth round of fundraising for European fund
First State Investments announced in May that its fund, the First State European Diversified Infrastructure Fund (EDIF), will be commencing its fifth and final round of fund raising in June, targeting a further €300 million to €500 million. Read more -
June 13, 2014
Northumbria Healthcare NHS buys out hospital PFI project
Northumbria Healthcare NHS Foundation Trust has been given approval from the Government and Monitor, the independent regulator of NHS Foundation Trusts, to terminate its private finance initiative (PFI) contract which enabled Hexham General Hospital (Hexham, UK) to be built in 2003. Read more -
June 17, 2014
Antin Infrastructure Partners acquires UK gas pipeline
BG Group today announced it had agreed to the sale of its equity interest in the Central Area Transmission System (CATS) gas pipeline in the UK North Sea and associated infrastructure to Antin Infrastructure Partners for total proceeds up to £562 million, or approximately $954 million at current exchange rates. Read more -
June 17, 2014
Allianz Renewable Energy Fund acquires UK 19.5 MW solar farm
Germany's Allianz Renewable Energy Fund (AREF) has announced the acquisition of a 100% interest in the 19.5 MW Great Glemham solar farm in the United Kingdom. Read more
