Bilfinger Berger Global Infrastructure will rebrand to distance itself from the Bilfinger Group, which is no longer a cornerstone investor.
Bilfinger Group announced the sale of the Bilfinger Project Investments concession business in May.
After the acquisition of the 10 pipeline assets from Bilfinger, the fund will see only two more opportunities from the group. They may not come to fruition, either.
Bilfinger SE did not partake in the investment company’s 2013 capital raises so its shareholding in BBGI has fallen to 8.74 per cent from 19.9 per cent.
Due to the few opportunities to receive projects from Bilfinger, the fund’s board will ask shareholders to vote on changing its name to BBGI SICAV SA at the annual meeting next month.
The fund tapped equity markets twice last year raising £230m with both offers oversubscribed. This helped its market cap more than double in the year to 31 December to £502.2m. It was £230.8m a year earlier.
The company returned 5.5p total dividends in last year, with a total return of 14.18 per cent in 2013, according to FE Analytics.