Bilfinger Berger Global Infrastructure Fund successfully placed

December 14, 2011

December 14, 2011

Bilfinger Berger Global Infrastructure Fund successfully placed 

  • Marketing of shares in the fund completed
  • Listing on the London Stock Exchange on December 21, 2011
  • Net proceeds of about €240 million, effective in first quarter 2012


“This is a tremendous success in a difficult capital market environment”, said a pleased Roland Koch, Chairman of the Executive Board at Bilfinger Berger: With the expiry of the subscription period on December 13, 2011, shares in the Bilfinger Berger Global Infrastructure Fund were fully placed, the offering was oversubscribed. The fund volume amounts to £212 million (about €245 million). As planned, 80.1 percent of the shares were acquired by institutional investors at a pre-determined price. Bilfinger Berger invested nearly €50 million in the fund and thus holds 19.9 percent of the capital. Listing of the fund on the premium segment of the London Stock Exchange is planned for December 21, 2011.

The sale of 18 public-private partnership (PPP) projects from the Bilfinger Berger portfolio to the fund will take effect in the first quarter of 2012, leading to net proceeds of about €240 million for Bilfinger Berger in the coming financial year. The anticipated capital gain will be in the magnitude of approximately €50 million.

“The successful marketing of shares in the fund impressively demonstrates the intrinsic value of our PPP projects”, emphasized Roland Koch. “It is clear that the infrastructure fund is being met with tremendous interest, especially in the turbulent capital markets. The creditworthiness of the projects and their broad international reach as well as the expected returns make the fund highly attractive, particularly for institutional investors.” The Bilfinger Berger Global Infrastructure Fund comprises availability-based road projects and social infrastructure projects such as schools, hospitals, prisons and public administration buildings in the United Kingdom, Germany, Canada and Australia.

As a result of the sale, the equity committed in the remaining project portfolio from Bilfinger Berger decreases by some €140 million to about €250 million. Bilfinger Berger intends to make further investments with the proceeds. The target volume for equity committed to public-private partnerships remains unchanged at €400 million.

Bilfinger Berger currently has a number of attractive new projects in the bidding phase, especially in Australia and Canada. With this fund, the company creates a new basis for the future sale of its projects. Through a cooperation agreement, the Group will offer additional mature projects to the fund. Bilfinger Berger will continue to carry out asset management for the project companies included in the fund, thereby strengthening its long-term client relations.


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO THE UNITED STATES, OR INTO OR FROM CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA.

This announcement does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any shares in the future fund or securities in any other entity, in any jurisdiction, including the United States, nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or investment decision whatsoever, in any jurisdiction. This announcement does not constitute a recommendation regarding any securities.

Any investment decision must be made exclusively on the basis of the final prospectus to be published by the fund and any supplement thereto in connection with the admission of ordinary shares of the Company ("Ordinary Shares") to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities (the "Prospectus").