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LONDON (Alliance News) - 3i Infrastructure PLC on Wednesday said it will acquire Dutch energy infrastructure equipment provider Joulz Diensten BV through a EUR220 million investment.
Joulz is being acquired from Dutch distribution grid operator Stedin Holding NV.
Joulz has two business units: Infrastructure Services and Metering, each generating 50% of the company's total revenue.
The Infrastructure Services unit designs, installs and maintains electricity infrastructure such as transformers, switch gear and cables which the Metering unit leases and operates electricity and gas meters for non-household customers.
The acquisition is conditional on third party approvals.
"Joulz is an attractive addition to our portfolio, with a strong established asset base as well as good potential for growth as the Netherlands accelerates its transition to more sustainable energy use," said Chair Richard Laing.
Shares in the FTSE 250-listed infrastructure investment company were up 0.6% at 272.837 pence on Wednesday.
