LBC Announces New Shareholders
LBC Group today confirms that a consortium advised by Access Capital Advisers (Access) comprising Dutch pension fund asset managers APG Algemene Pensioen Groep N.V. (APG), PGGM (through its PGGM Infrastructure Fund 2012) (PGGM) and Australian superannuation investors has completed its acquisition of the remaining 70% of LBC Terminals Jersey Limited (LBC) from Challenger Infrastructure Fund and Challenger Life.
This follows the parties signing a binding sale and purchase agreement on 4 June and obtaining European Commission clearance earlier this month. The move marks a significant endorsement for LBC Group’s long-term ambitions for global development and growth.
LBC Group CEO, Brett Simpson, commented “I am very excited to see this transaction close. Our new shareholders share our group-wide vision for growth and fully support our drive to accelerate our ambitions.”