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BBGI Global Infrastructure SA on Monday said it purchased a 49% equity interest in project company Via Solutions Nord GmbH & Co KG for the A7 motorway in northern Germany.
The Luxembourg-based investment firm did not disclose the purchase price of the stake but noted that the investment is expected to rank in its top 6 to 10 investments. The payment is being funded through its £230 million corporate revolving credit facility and existing cash resources.
The interest in Via Solutions is being acquired from entities owned by construction company Hochtief Solutions AG.
Via Solutions is a project company for the A7 motorway public-private partnership between Hamburg and the city of Bordesholm, which is near the border with Denmark. The project is meant to help improve cross-border connections. It is part of the Trans-European Transport Networks, a policy of the European Commission that supports the development of a Europe-wide road network.
The completion of the acquisition is subject to conditions including consent from the public sector client.
‘Our 56th availability-based infrastructure investment is our first road project in Germany and a great addition to our existing six projects in the country, further strengthening our continental Europe exposure,’ BBGI Co-Chief Executive Frank Schramm said.
Shares were up 0.6% at 164.99 pence each on Monday morning in London.
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