Infrastructure investment company BBGI SICAV company acquired a further stake in the A1/A6 public private partnership road project in the Netherlands for £58m. 'The company acquired two significant project interests over the last month being the 33.3% interest in the Ohio River Bridges - East End Crossing PPP Project, which was announced on 16 May 2019; and its interest in this A1/A6 project,' BBGI said. The combined consideration for both projects was approximately £58m, which would be funded from the company's existing cash resources and drawings under its credit facility. The project was part of the Schiphol-Amsterdam-Almere expansion and involved the reconstruction and widening of a 18 km motorway including reversible lanes. The project became operational in 2017 and the concession runs until 2042. 'This acquisition further strengthens the global footprint of our porfolio of investments in AAA/AA rated countries. Given our existing involvement with this project, no additional management resources will be needed to oversee the incremental investment, helping to contribute to BBGI's low on-going charge,' said Frank Schramm, Co-CEO.
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