Bilfinger Berger fund to acquire 11 PPP projects from Bilfinger Berger

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Bilfinger Berger fund to acquire 11 PPP projects from Bilfinger Berger

Bilfinger Berger Global Infrastructure SICAV S.A. (BBGI) has announced that it is in sole discussions with Bilfinger Berger in relation to the potential acquisition of up to 11 pipeline projects with a potential value of around £200 million. This follows the announcement on 28 May 2013 that Bilfinger proposes to divest of its concessions business unit which comprises PFI/PPP projects in Australia, North America and Europe.

Accordingly, BBGI is considering raising additional equity capital during Q4 2013 in order to finance the proposed acquisition. The current intention is to raise additional equity capital by way of a placing, open offer and offer for subscription of new shares. BBGI said that the target amount to be raised will depend on the final number of pipeline projects agreed to be acquired, taking into account also BBGI's existing cash resources.

BBGI said that a prospectus relating to the issue will be published in due course.

Bilfinger Berger announced the sale of 18 public-private partnership (PPP) projects to BBGI in Q1 2012, leading to net proceeds of about €240 million for Bilfinger Berger. The fund had carried out an initial public offering in December 2011 raising £212 million.

In July 2013, BBGI raised £70 million to acquire new assets and pay back a revolving facility. In August 2013, the listed fund also announced the acquisition of its first Canadian projects. Finally in late August, the listed fund acquired a 50% stake in four operational PPP Projects in Germany from Hochtief PPP Solutions GmbH.

List of country news

Country news

  • October 03, 2013

    John Laing Infra fund raises 242 million and acquires 3 PPP projects

    Listed infrastructure fund, John Laing Infrastructure Fund (JLIF), has closed the largest raise of new equity since its launch. The company has issued 218,291,103 new shares, at a price representing a 6.3% premium to JLIF's Net Asset Value, raising £242.3 million. The issue was oversubscribed. Read more
  • October 04, 2013

    PIN released for Bristol Extra Care housing DBFOM

    Bristol City Council published on Sept. 27th a Prior Information Notice (PIN) in the Official Journal of the European Union for the design, build, finance, maintain and operate a mixed tenure Extra Care Housing scheme on land at New Fosseway Road, Hengrove, Bristol, and additional sites in Bristol. Read more
  • October 07, 2013

    UK Green Investment Bank appoints Managing Director for Waste and Bio-energy

    The UK Green Investment Bank plc (GIB) announced on Friday the appointment of a new Managing Director for Waste and Bio-energy. Read more
  • October 08, 2013

    North London Waste PFI project cancelled

    The North London Waste Authority (NLWA) has decided to end its procurement for long-term waste management services through a private finance initiative. Read more
  • October 08, 2013

    Aviva and NIBC close 620.6 million infrastructure collateralised loan obligation in the UK

    Aviva Investors and NIBC Bank yesterday announced the successful restructuring and placement of an Infrastructure Collateralised Loan Obligation (CLO), named Adriana Infrastructure CLO 2008-I B.V. (Adriana). The CLO is backed by UK Sterling loans to operational public-private partnership (PPP) projects in the United Kingdom originated by NIBC. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.