British Columbia Investment Management Corp. (BCI) has reached an agreement with BBGI Global Infrastructure (BBGI) to purchase the company for approximately £1.06 billion ($1.3 billion) in cash.
BBGI is a Luxembourg-based infrastructure investment company that provide the responsible capital required to build and maintain the developed world’s transport and social infrastructure.
The offer, which was unanimously recommended by the BBGI supervisory board and the BBGI management board, values BBGI at a premium of 3.4 percent to BBGI’s estimated net asset value of 142.7 pence ($1.77) per BBGI share, as of Dec. 31, 2024.
BCI is amongst the largest institutional investors in Canada, with C$250 billion ($175 billion) in gross assets under management as of March 31, 2024. BCI manages a portfolio of diversified public and private market investments on behalf of its British Columbia public pension fund and institutional clients.
BCI’s investment in BBGI wil
