LONDON, Jan 31 (Reuters) - British private equity group 3i said on Thursday it had made strong progress in itsefforts to restructure the business and was on track to cut debtbelow 1 billion pounds ($1.58 billion) by June.
The owner of women's fashion retailer Hobbs and TommeeTippee baby bottle maker Mayborn said net asset values grew 4.8percent to 286 pence a share in the three months to the end ofDecember.
Its debt at Dec. 31 stood at 1.2 billion pounds.
Chief Executive Simon Borrows, who took over last yearfollowing shareholder frustration at poor share priceperformance and weak results from its buyout business, also saidthe company expected to exceed its cost-cutting targets for thefinancial year.