UK's GCP Asset Backed Income Fund up on deal with GCP Infra

RM Infrastructure Income

11/08/2023 08:32

** Shares of GCP Asset Backed Income Fund  GABIG.L  rises
11% to 63.8p in early trading
    ** Stock among top pct gainer across London bourse
    ** GCP Infrastructure Investments  GCPI.L  says it struck a
deal to acquire assets of GCP Asset Backed Income Fund (GABI)
    ** GCP Infra also in talks with RM Infrastructure Income
 RMII.L  about a potential combination
    ** GCPI has committed to use 200 mln pounds ($254.08 mln) of
cash to bring down debt and return capital to investors via
share buy-backs as part of the GABI deal
    ** GABIG's shares down ~32% YTD, as of last close

    
   


($1 = 0.7872 pounds)

 (Reporting by Anchal Rana in Bengaluru)
 ((Anchal.Rana@thomsonreuters.com; +91 9915609050;))