Feb 6 (Reuters) - Canada's British Columbia Investment

Management Corp will buy Luxembourg-based investment firm BBGI

Global Infrastructure S.A. in a deal valuing the

company at 1.06 billion pounds ($1.32 billion), the companies

said on Thursday.

BBGI shareholders will get 147.5 pence-per-share in cash, a

premium of 21% to the stock's closing price on Wednesday.

BBGI, whose portfolio includes projects such as bridges and

tunnels, besides education and health care facilities, said its

board has recommended that shareholders vote in favour of the

deal.

($1 = 0.8013 pounds)