CORRECTED-3i Infrastructure to sell stake in Wireless Infrastructure Group

(Corrects ownership of 3i Infrastructure in paragraph 3)

Dec 19 (Reuters) - 3i Infrastructure is selling its
93% stake in Wireless Infrastructure Group (WIG) to Brookfield
Infrastructure, two weeks after divesting its British projects
portfolio.

The deal values 3i Infrastructure's stake in the British
independent wireless infrastructure operator at 387 million
pounds ($506.08 million), the British investment firm said in a
statement on Thursday, adding that compared to a valuation of
291 million pounds on Sept. 30.

Blue-chip private equity firm 3i Group owns a 30%
stake in 3i Infrastructure. Brookfield Infrastructure is a unit
of Canada's Brookfield Asset Management.

"We concluded that it is better for shareholders that we
sell our interest in WIG at this attractive price and look to
recycle the capital into new opportunities," 3i Infrastructure
Chairman Richard Laing said in the statement.

Earlier this month, 3i Infrastructure sold its projects
portfolio in Britain to a range of buyers for about 194 million
pounds, adding that it is also exploring the potential sale of
European projects.

The company expects its pro forma cash position to be around
390 million pounds after completing the sales.

Shares in 3i Infrastructure were up 2.1% at 298.5 pence at
1305 GMT.

($1 = 0.7647 pounds)
(Reporting by Shanima A in Bengaluru; Editing by Kirsten
Donovan)