3i Infrastructure PLC Partial syndication of investment in ESVAGT (7352M)
25 May 2022 - 5:30PM
UK Regulatory
TIDM3IN
RNS Number : 7352M
3i Infrastructure PLC
25 May 2022
3i Infrastructure plc announces partial syndication of its
investment in ESVAGT
25 may 2022
3i Infrastructure plc ("3i Infrastructure" or "the Company") has
signed an agreement to syndicate 16.9% of its stake in ESVAGT to 3i
Aura L.P., a newly-established vehicle managed by 3i Investments
plc and funded by three institutional investors.
ESVAGT is the market leader in the fast growing segment of
service operation vessels for the offshore wind industry, and is
also a leading provider of emergency rescue and response vessels
and related services to the offshore energy industry in and around
the North Sea and the Barents Sea.
3i Infrastructure's holding in ESVAGT will decrease from 100% to
83.1%, for consideration of c.DKK785m, in line with the valuation
as at 31 March 2022. The proceeds will be used to repay part of the
Company's outstanding RCF balance.
Following completion, 3i Investments plc, the Company's
Investment Manager, will continue to manage 100% of ESVAGT.
Phil White, Managing Partner and Head of Infrastructure, 3i
Investments plc, commented:
"This transaction helps 3i Infrastructure to maintain a balanced
portfolio and provides useful additional liquidity. We are pleased
to have attracted three high quality investors alongside us as we
continue to work with ESVAGT's management team to take advantage of
its future growth potential, both in Europe and the US."
-ENDS-
For further information, contact:
Thomas Fodor Tel: +44 207 975 3469
Investor enquiries Email: thomas.fodor@3i.com
Kathryn van der Kroft Tel: +44 20 7975 3021
Media enquiries Email: kathryn.vanderkroft@3i.com
Notes to editors:
3i Infrastructure plc
3i Infrastructure plc is a Jersey-incorporated, closed-ended
investment company and an approved UK Investment Trust, listed on
the London Stock Exchange and regulated by the Jersey Financial
Services Commission. The Company's purpose is to invest responsibly
in infrastructure, delivering long-term sustainable returns to
shareholders and having a positive impact on its portfolio
companies and their stakeholders.
3i Investments plc, a wholly-owned subsidiary of 3i Group plc,
is authorised and regulated in the UK by the Financial Conduct
Authority and acts as Investment Manager of 3i Infrastructure
plc.
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END
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