BBGI Global Infrastructure has agreed to pay C$88 million ($71 million) for a 25 percent stake in Canadian healthcare network, Center Hospitalier de l'Universite de Montreal (CHUM).
The sellers were entities owned by Spanish construction and civil engineering company Obrascon Huarte Lain, Alliance News reports.
Located in central Montreal, CHUM is part of a public-private partnership project to develop a hospital facility in the Quebec province. The first phase of the project was completed in 2017, followed by the second phase in 2021. The concession runs until 2050.
“The new state-of-the-art facility caters to over 1.7 million people in the region and it is one of the largest healthcare centers in North America,” said BBGI Global.
The purchase will be funded by the company's £230 million ($317 million) corporate revolving credit facility and existing cash resources.
Following the acquisition, BBGI Global’s portfolio will include 55
