Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.

Less Ads, More Data, More Tools Register for FREE
George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’
George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’View Video
Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America
Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin AmericaView Video

Latest Share Chat

Pin to quick picks3i Group Share News (III)

Share Price Information for 3i Group (III)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2,879.00
Bid: 2,875.00
Ask: 2,877.00
Change: 36.00 (1.27%)
Spread: 2.00 (0.07%)
Open: 2,862.00
High: 2,886.00
Low: 2,850.00
Prev. Close: 2,843.00
III Live PriceLast checked at -
3i Group is an Investment Trust

To provide its shareholders with quoted access to private equity and infrastructure returns, its main focus is on making quoted and unquoted equity and/ or debt investments in businesses and funds in Europe, Asia and the Americas.

Find out More

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Two bidding groups line up final bids for Fortum's Swedish grid - sources

Wed, 04th Mar 2015 15:09

By Anjuli Davies and Sven Nordenstam

LONDON/STOCKHOLM, March 4 (Reuters) - Two bidding groups arelining up final offers for the Swedish power grid of Finnishutility Fortum that could be worth around 6 billioneuros ($6.7 billion), ahead of a March 11 deadline, sourcesfamiliar with the matter told Reuters.

Borealis, the infrastructure investment arm of Canadianpension fund OMERS, is teaming up with Swedish pension funds forits bid.

Meanwhile the infrastructure arm of Goldman Sachs ispartnering with private equity firm 3i's infrastructurearm and sovereign wealth funds to bid for the asset, with thewinner expected to be chosen shortly after.

Fortum may be keen to have something to announce at itsannual shareholders' meeting on March 31, one of the sourcessaid, speaking on condition of anonymity because the matter isprivate.

Fortum declined to comment. All of the prospective bidderseither declined to comment or could not immediately be reachedfor comment.

The auction attracted a range of infrastructure investorskeen to snap up regulated energy assets for their predictablecash flows, pushing the price up.

Those who expressed interest earlier in the processincluding Macquarie and CKI, an investment entitycontrolled by Hong Kong billionaire Li Ka-Shing, are no longerin the race, the sources added.

Fortum is selling its Swedish power grid as part of a trendfor European energy firms to split off their distributionnetworks to cut debt and focus on power generation and renewableenergy.

It has already sold its distribution business in Finland toa group of investors led by First State Investments and BorealisInfrastructure for 2.55 billion euros in December 2013.

It also divested its smaller Norwegian electricitydistribution business, as well as a stake in gas utility Gasum.

At the same time, Fortum has said it is ready to takesignificant development and growth steps and is looking beyondthe Nordics and Russia.

Fortum is interested in a bidding for a 66 percent stake inSlovak power producer Slovenske Elektrarne, being offered forsale by Italy's Enel, a source with knowledge of thematter said in February [ID: nL5N0VZ2TS] ($1 = 0.8980 euros) (Additional reporting by Freya Berry and Jussi Rosendahl;Editing by David Holmes)

More News
17 May 2021 09:47

BROKER RATINGS: Liberum downgrades Howden Joinery to Hold from Buy

BROKER RATINGS: Liberum downgrades Howden Joinery to Hold from Buy

Read more
14 May 2021 09:39

BROKER RATINGS: JPMorgan raises Sage to Neutral; MS ups Whitbread

BROKER RATINGS: JPMorgan raises Sage to Neutral; MS ups Whitbread

Read more
13 May 2021 17:05

LONDON MARKET CLOSE: Stocks decline as inflation pressure continues

LONDON MARKET CLOSE: Stocks decline as inflation pressure continues

Read more
13 May 2021 09:38

3i raises dividend after private equity picks drive solid return

3i raises dividend after private equity picks drive solid return

Read more
13 May 2021 08:56

3i Group total return surges to 22pc for year ended March

(Sharecast News) - Private equity and venture capital company 3i Group reported a "strong" result for the year on Thursday, despite disruption caused by the Covid-19 pandemic.

Read more
11 May 2021 09:08

3i Infrastructure hits returns target and plans bigger dividend payout

3i Infrastructure hits returns target and plans bigger dividend payout

Read more
7 May 2021 12:50

Friday broker round-up

(Sharecast News) - Melrose: Numis upgrades to buy with a target price of 205p.

Read more
6 May 2021 15:51

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
29 Mar 2021 09:36

BROKER RATINGS: Morgan Stanley upgrades BT to Overweight

BROKER RATINGS: Morgan Stanley upgrades BT to Overweight

Read more
26 Mar 2021 13:40

Friday broker round-up

(Sharecast News) - Ocado Group: Berenberg downgrades to hold with a target price of 2,390p.

Read more
18 Mar 2021 10:31

3i's Action stores underperforming in Germany, resilient in France

3i's Action stores underperforming in Germany, resilient in France

Read more
18 Mar 2021 07:58

3i says Action's open stores trading strongly

(Sharecast News) - 3i said stores of its Action discount retail business that are fully open were trading strongly but that outlets in countries under lockdown had lost "significant sales".

Read more
11 Mar 2021 09:40

BROKER RATINGS: BofA, Barclays and Goldman start Dr Martens coverage

BROKER RATINGS: BofA, Barclays and Goldman start Dr Martens coverage

Read more
10 Mar 2021 15:37

3i prepares for IPO or sale of lighting retailer Luqom, sources say

FRANKFURT, March 10 (Reuters) - British buyout group 3i is poised to launch a stock market listing or sale of its German lighting retailer Luqom in a deal that could value the business at up to 700 million euros ($834 million), people close to th...

Read more
18 Feb 2021 09:40

Infrastructure investors short-listed in sale of German fibre group DNS -sources

FRANKFURT, Feb 17 (Reuters) - German private equity firm DBAG has short-listed infrastructure investors Antin, InfraVia and 3i in the sale of fibre-optic firm DNS:Net Internet Service, which is seen worth 400-500 million euros ($483-$603 mln), pe...

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.