BBGI SICAV S.A. has announced that it has completed the acquisition of a further 50% equity interest in the Kelowna and Vernon Hospitals PPP Project (KVH). BBGI's equity interest in the project is now 100%.

KVH consists of a Patient Care Tower, University of British Columbia Clinical Academic Campus and car park, and a Clinical Laboratory Support Building at Kelowna Hospital, and a Patient Care Tower at Vernon Jubilee Hospital totaling approximately 70,000 square meters of space. 

The asset revenues are availability-based in accordance with the investment policy of the Company. The concession runs until 2042 and availability payments are received from the Interior Health Authority, which is funded by the Province of British Columbia which is rated Aaa by Moody's and AAA by S&P. 

The contractual arrangements between the parties require that the exact purchase price be held confidential but can be confirmed to be less than GBP 15 million (US$ 19.67 million).