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Bilfinger sells shares in infrastructure fund BBGI

Reuters - UK Focus

FRANKFURT, April 9 (Reuters) - German engineering and services group Bilfinger (Berlin: GBF.BE - news) has sold its 8.7 percent stake in infrastructure fund BBGI in an institutional placement, generating net proceeds of about 50 million euros ($69 million).

Capital (Other OTC: CGHC - news) gains from the deal amount to about 5 million euros, it said in a statement on Wednesday.

Bilfinger acquired a minority interest in BBGI, which invests in public-private partnership projects, when the fund was listed on the stock exchange in 2011.

($1 = 0.7249 Euros) (Reporting by Maria Sheahan; Editing by Kirsti Knolle)