BBGI Global Infrastructure, a London-listed company, has agreed to a cash offer of 1.06 billion pounds ($1.33 billion) from Boswell Holdings 3, a new entity indirectly controlled by British Columbia Investment Management (BCI).

BBGI Global Infrastructure has been offered a £1bn takeover from a Canadian pension giant, with the FTSE 250 trust’s board backing the deal. In a stock exchange notice, BBGI said $250bn asset manager British Columbia Investment Management had offered 147.

BBGI Global Infrastructure receives bid at 21.1% premium to closing share price from British Columbia Investment Management Corporation