By Robb M. Stewart
MELBOURNE, Australia--Investment manager AMP Capital is teaming
up with 3i Infrastructure PLC (3IN.LN) to buy Denmark's Esvagt, a
provider of rescue services for Scandinavia's offshore oil-and-gas
industry.
AMP Capital, a unit of Australian financial services company AMP
Ltd. (AMP.AU), said Tuesday it will invest about GBP109 million
(US$170 million) to buy a 50% interest in Esvagt from Maersk Group,
while 3i will buy the remaining stake.
The deal bolsters AMP Capital's global infrastructure fund,
adding a company with contracted revenue streams and a unique
operating model that is positioned to be replicated in other
markets, Boe Pahari, global head of infrastructure equity at the
Australian firm, said.
Esvagt, which employs more than 800 people and owns a fleet of
43 vessels, is a leading provider of emergency-response services to
the energy industry in Denmark and Norway, and is growing its
presence in the U.K. offshore wind services sector.
AMP Capital's global infrastructure platform is currently
raising funds from global investors and the company said it has
secured commitments for more than $1 billion, with a targeted final
close of $2 billion.
Write to Robb M. Stewart at robb.stewart@wsj.com
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