BBGI Global Infrastructure Agrees to $1.33 Billion Cash Takeover

Dow Jones

Feb 06, 2025

By Ian Walker

BBGI Global Infrastructure agreed to a 1.06 billion-pound ($1.33 billion) cash offer from Boswell Holdings 3, a new company indirectly controlled by British Columbia Investment Management.

The investment company said Thursday that accepting shareholders would get 147.5 pence in cash for each share held, a 21% premium to its closing price of 121.80 pence on Wednesday.

London-listed BBGI said it expects to declare its interim dividend for the half year ended Dec. 31 in February for payment in April. Given that the payment will be made before the deal is expected to complete, the offer price will be reduced by the value of the dividend.

BCI is a Canadian institutional investor with 250 billion Canadian dollars ($174.68 billion) in gross assets under management at March 31, 2024. It manages a portfolio of diversified public and private market investments on behalf of its British Columbia public pension fund and institutional clients.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

February 06, 2025 02:51 ET (07:51 GMT)

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