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LONDON (Alliance News) - 3i Infrastructure PLC Tuesday said it is set to invest EUR6.3 million in an 80% holding in the National Military Museum project in the Netherlands.
The Jersey-incorporated, closed-ended investment company acquired its 80% holding in the National Military Museum from 3i Group PLC, which had acquired the holding of when acquiring Infrastructure Funds Management Limited from Barclays Bank PLC.
"This is the first of the investments sourced for 3i Infrastructure from the investment adviser's enhanced origination platform. We expect that 3i Group's acquisition of BIFM will bring further investment opportunities for the company," Cressida Hogg, managing partner, infrastructure, 3i Investments, a wholly-owned subsidiary of 3i Group, said in a statement.
3i Investments is 3i Infrastructure's investment adviser.
3i Infrastructure said EUR3.25 million of its EUR6.3 million commitment has been invested, with the remainder to be invested when construction is completed.
The project, which will showcase military hardware and hold various related events including workshops and symposia on military research, is set to be completed in September 2014.
3i Infrastructure Chairman Peter Sedgwick said the investment would diversify the company's portfolio.
Heijmans NV, the construction contractor, will retain the remaining 20% holding in the project.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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