British Columbia Investment Management Corporation (BCI) has made an offer to acquire BBGI Global Infrastructure and take it private. The Luxembourg-based entity holds a mix of infrastructure assets, but is largely weighted to transportation, including the Golden Ears Bridge in B.C.’s Fraser Valley, and health care facilities, including Women’s College Hospital in Toronto.
BBGI’s supervisory and management boards have unanimously endorsed the proposed all-cash deal, which would see shareholders receive 147.5 U.K. pence (CAD $2.63) per share. BCI’s total outlay is pegged at ₤1.062 billion (CAD $188 billion).
“We believe BBGI will be a compelling and strategic addition to BCI’s Infrastructure & Renewable Resources portfolio, with a diversified mix of international holdings across the transport, clean energy, healthcare, education and social infrastructure sectors,” says Grant Hodgkins, a senior director with BCI.
Slightly more than one-third of those assets are in Canada. The remainder are located in the United Kingdom (33 per cent), continental Europe (13 per cent), the United States (10 per cent) and Australia (9 per cent).
BBGI is currently trading at 142.8 U.K. pence (CAD $2.54) per share on the London Stock Exchange with slightly less than 715 million shares issued. If shareholders agree, the deal is expected to be completed in the third quarter of 2025.
