BBGI Global Infrastructure trust has agreed to sell the vehicle to Boswell Holdings, a newly formed special limited partnership indirectly controlled by British Columbia Investment Management Corporation.
The cash offer, which is being unanimously recommended by the BBGI board and management to shareholders, will see Boswell pay 147.5p per BBGI share, valuing the trust at more than £1bn on a fully diluted basis. BBGI said the price represents a 21.1% premium to the 5 February closing price of 121.8p and a 20.1% premium to the three-month volume weighted average price of 122.9p. Over 90% of UK investment trusts ended 2024 on a discount Additionally, the trust noted the cash offer values BBGI at a 3.4% premium to its net asset value. According to data from the Association of Investmen...
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