Bilfinger Berger targets £212m for closed-end launch

Close-ended investment company Bilfinger Berger Global Infrastructure is aiming to raise £212m through the issuance of ordinary shares.

The proceeds raised will be used to invest in a portfolio of up to 19 PFI/PPP infrastructure assets to be acquired from Bilfinger Berger Project Investments.

The majority of the portfolio will be focused on investment projects in the UK as well as 27% based in Canada, 27% in Australia and 5% in Germany.

The UK investment projects are largely centered around the education and healthcare sectors.

The closed-end fund is aiming for a 5.5% annualised dividend yield on the issue price, and aims to increase this over the longer term.

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