Bilfinger Berger fund completes acquisition of Norway road project

19th Jun 2014 09:46

FTSE-small cap listed equity investment firm Bilfinger Berger Global Infrastructure has completed the acquisition of an additional 41.2% to equity interest in the E18 Roadway Project in Norway.The group now owns 100% of the equity interest in E18, located in Norway from Sundt AS, which was announced on May 30th. The project, a long-term PPP concession contract, will operate a new section of highway between Grimstad and Kristiansand in Norway and is part of the trunk road from Oslo to Kristiansand. The concession expires in 2034 and is availability-based with no volume risk. The acquisition price of approximately £12.5m was funded from the company's existing cash resources and drawings from the credit facility. As of 10:24 the share price had risen 0.11% to 116p.WS