StockMarketWire.com - BBGI SICAV SA has completed the acquisition of a further 50% interest in the Northern Territory Secure Facilities PPP Project in Australia from Commonwealth Investments Pty Limited, as announced on 9 June. BBGI now owns 100% of the equity interest in NTSF.

NTSF is a new 1,000 bed correctional facility, located on a greenfield site at Holtze, near Darwin, Australia. It became operational in 2014 and allows Northern Territory Corrections to engage prisoners in structured daily programs in order to foster rehabilitation and stronger re-integration. The concession term runs until June 2044.

BBGI will receive availability payments during the concession period from the Northern Territory government.

BBGI has also completed the acquisition of a further 30% equity interest in the Avon & Somerset Police HQ PPP Project in the UK from Galliford Try Corporate Holdings Limited, as announced on 17 June.

The asset consists of four police buildings (an operation base, two custody and crime investigation centres, and a tri-forces firearms training centre). The concession term runs until March 2038. BBGI will receive availability payments during the concession period from the Avon & Somerset Police Authority.

The acquisition price for the two assets was approximately GBP 37.3 million and was funded from both the Company's existing cash resources and drawings from the credit facility.




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