LONDON, March 26 (Reuters) - 3i Group Plc has soldferry operator Scandlines to infrastructure funds First StateInvestments and Hermes Investment Management and bought back a35 percent stake, the London-listed private equity group said onMonday.
The deal gives Scandlines an equity value of 1.7 billioneuros ($2.11 billion), 3i said in a statement, adding it madenet cash proceeds of 347 million euros from the transaction,which it expects to close in the first quarter of 2019.
Scandlines operates ferry routes between Germany andDenmark, with more than 42,000 journeys per year.
It recently completed an 862 million euro infrastructuredebt refinancing to reduce its long-term cost of debt.
Rothschild advised 3i and Scandlines on thetransaction. Deutsche Bank and Macquarie Capitalacted as financial advisers to First State andHermes.
($1 = 0.8074 euros)(Reporting by Clara Denina; editing by Jason Neely)