StockMarketWire.com - BBGI SICAV has completed the acquisition of a further 41.2% equity interest in the E18 Roadway Project ("E18") in Norway from Sundt, as announced last month.

This means that BBGI now owns 100% of the equity interest in E18, which is a long term PPP concession contract to operate and maintain a new section of highway between Grimstad and Kristiansand in Norway.

The 38km dual carriageway road opened in August 2009 and is part of the trunk road from Oslo to Kristiansand. The concession expires in 2034 and is availability-based with no volume risk.

The acquisition price of approximately £12.5m was funded from the company's existing cash resources and drawings from the credit facility.




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