Canadian Pension BCI Offers To Take Infra Firm BBGI Private in £1B+ Deal

The British Columbia Investment Management Company (BCI) has made a cash bid to take Luxembourg-based BBGI Global Infrastructure private in a deal that would value the company at approximately £1.062 (~$1.3B).

The transaction will be executed through BCI’s special limited partnership Bidco, formed by the Canadian pension under Luxembourg law specifically to make the offer, and made through its infrastructure and renewable resources program, which invests in tangible long-life assets that include direct investments in utilities, energy, telecommunications, transportation, timberland, and agricultural businesses. BCI has proposed a cash offer that represents a 21.1% premium to the infrastructure firm's February 5 closing price on the London Stock Exchange. The offer is expected to close in the third quarter.

Weil, Gotshal & Manges London is serving as English legal advisor and Elvinger Hoss Prussen S.A. as Luxembourg legal advisor to Bidco and BCI, while Norton Rose Fulbright LLP is acting as English legal advisor and A&O Shearman SCS as Luxembourg legal advisor to BBGI. BCI said it manages C$250B (~$175B) in gross assets as of March 31, 2024.

Written By: Dakota

The Database For Cold Outreach to Reach Institutional and RIA Investors

Book A Demo

Canadian Pension BCI Offers To Take Infra Firm BBGI Private in £1B+ Deal

Subscribe

Related Content

British Columbia Investment Management Sells Hayfin Capital Stake

Blue Owl to Acquire Tech Infrastructure Fund Manager IPI for $1B

Carson Bolsters Midwest Presence with Acquisition of $1B AUA Sweet Financial

The Database For Cold Outreach to Reach Institutional and RIA Investors

Address

Products & Services

Resources

Events

Company