StockMarketWire.com - BBGI SICAV has completed the acquisition of 100% equity and loan note interests in DBFO -1 Road Service (M1 Westlink) under the sale and purchase agreements with Bilfinger Group and Graham Investment Projects Limited as on 15 November and 4 December respectively.

M1 Westlink is a long term concession to design, upgrade, finance and operate the M1 Westlink road scheme in Belfast, UK. The project commenced in April 2006 and required a significant amount of construction work to upgrade key sections of the existing road network.

This consisted of approximately 60km of motorway and a short section of linking dual carriageway through the heart of Belfast. The project was completed approximately six months ahead of schedule in November 2009. The concession expires in 2036 and is availability-based with no volume risk.

The acquisition was funded from the company's existing cash resources following the £145m capital raise which completed on 11 December.




Story provided by StockMarketWire.com