Norton Rose Fulbright advises BBGI Global Infrastructure on c.£1 billion recommended cash offer by BCI

Global law firm Norton Rose Fulbright is advising BBGI Global Infrastructure S.A. (BBGI) on the £1.062 billion recommended cash offer by British Columbia Investment Management Corporation (BCI). Under the terms of the offer, BBGI’s shareholders will receive 147.5p per BBGI share in cash.

BBGI is a responsible infrastructure investment company existing under the laws of Luxembourg and is a constituent of the FTSE 250. BBGI invests in and actively manages for the long-term a globally diversified, low-risk portfolio of essential social infrastructure investments.

BCI is amongst the largest institutional investors in Canada, with CAD $250 billion in gross assets under management as of 31 March, 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 will be made by BCI’s Infrastructure & Renewable Resources (“I&RR”) program, which invests in tangible long-life assets that include a portfolio of direct investments in companies across a variety of sectors spanning regulated utilities, energy, telecommunications, transportation, timberlands and agri-businesses.

The London-based Norton Rose Fulbright team is being led by corporate partner Paul Whitelock alongside corporate partner Nicolas Sirtoli with support from a multi-disciplinary team from across the firm. The UK-based partners include Ian Fox and Richard Sheen (corporate (listed funds)), Jamie Cooke (competition) and Matthew Findley (incentives), with additional support from associates Jess Ong-Davys and Katherine MacPhail (corporate), Minoti Makwana and Matt Scott (antitrust) and Katharine Wadia (incentives).

Paul Whitelock commented: “We are delighted to support our long-standing client, BBGI, which has grown to be one of the largest UK-listed infrastructure funds, on reaching this significant milestone.”