Bilfinger Berger Global Infrastructure SICAV S.A. (BBGI) announced on June 17th that it was considering raising additional capital through the issue of new ordinary shares.

BBGI said that its current intention is to raise new equity capital by way of a placing, open offer and offer for subscription of new Shares. The Company is currently targeting a fundraising of £70 million and the issue price per Share will be at a premium to Net Asset Value per existing Share.

As announced in its interim management statement in May 2013, the Company is in advanced discussions with Bilfinger Group in relation to the acquisition of two Canadian projects, a social infrastructure and a road project, which have been presented by Bilfinger under the Pipeline Agreement.

BBGI expects to deploy the net proceeds of the Issue principally to acquire these pipeline assets as well as to pay down its existing debt facility with the balance to be used for further near term investments including third party acquisitions.

In addition, BBGI has announced it is in discussions with Bilfinger regarding the potential acquisition of additional projects following 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. If Bilfinger offers the Company the opportunity to acquire additional projects pursuant to the Pipeline Agreement, the target size of the Issue may be increased to a maximum of 125 million new Shares which represents the current maximum Shareholder authority to issue new Shares otherwise than on a pre-emptive basis.

It is anticipated that a prospectus relating to the Issue will be published by end June, with the Issue closing in mid-July.

Source: BBGI