Luxembourg-based BBGI Global Infrastructure has agreed to be acquired in an all-cash offer from British Columbia Investment Management Corporation (BCI) valued at EUR 1.27 billion (US$ 1.3 Billion), with a 21.1% premium over the last share price.

BCI, currently managing assets worth CA$ 250 billion (US$ 174 billion), will acquire BBGI through its London-based entity, Boswell Holdings. The acquisition, to be carried out by Bidco, a special limited partnership indirectly controlled by BCI, values BBGI at approximately US$ 1.3 Billion. The offer represents a 21.1% premium over BBGI’s closing share price of 121.8 pence on February 5, 2025, and a 20.1% premium compared to the three-month volume-weighted average price of 122.9 pence per share for the period ending on the same date. Under the agreement, BBGI shareholders who accept the offer will receive 147.5 pence in cash per share. Furthermore, the offer values BBGI at a 3.4% premium to its estimated net asset value of 142.7 pence per share as of December 31, 2024. This acquisition of BBGI will be made through BCI’s Infrastructure & Renewable Resources program, which focuses on long-term infrastructure assets across various sectors including utilities, energy, telecommunications and transportation.

The transaction, which is subject to customary regulatory approvals, is expected to complete in the third quarter of 2025.