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BBGI completes acquisitions

10 March 2016 07:37

BBGI SICAV, the international PPP infrastructure investment company, has now completed the previously announced acquisition of 100% of the equity and subordinated debt interests in two educational PPP projects in Northern Ireland, UK.

Belfast Metropolitan College is an educational campus comprising two five-storey teaching facilities and a two-storey engineering facility with associated car parking and a landscaped courtyard. The project was transferred to BBGI in March 2016.

North West Regional College is a four-storey teaching facility located in Londonderry providing state of the art information, communications and education technology for 1,100 students in the fields of business, computing, tourism and hospitality.

The project was transferred to BBGI in December 2015. Both projects are operational.

The concessions run until January 2026 and August 2027 respectively. BBGI will receive availability payments during the concession periods from the governing bodies of each of Belfast Metropolitan College and North West Regional College.

The acquisition price for the two assets was approximately GBP 11.6 million and was funded using the Company's cash resources.

Story provided by StockMarketWire.com

Related Company: BBGI

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