The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picks3i Infrastructure Regulatory News (3IN)

Share Price Information for 3i Infrastructure (3IN)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 338.00
Bid: 337.50
Ask: 339.00
Change: 2.50 (0.75%)
Spread: 1.50 (0.444%)
Open: 335.00
High: 340.00
Low: 333.00
Prev. Close: 335.50
3IN Live PriceLast checked at -
3i Infrastructure is an Investment Trust

To build a diversified portfolio of equity investments in entities owning infrastructure businesses and assets by seeking investment opportunities globally, but with a focus on Europe, North America and Asia.

Find out More

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

3i Infrastructure sells Anglian Water Group stake

18 Dec 2017 07:00

RNS Number : 5745Z
3i Infrastructure PLC
18 December 2017
 

 

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain.

3i Infrastructure plc sells its stake in Anglian Water Group

15 December 2017

 

3i Infrastructure plc ("3i Infrastructure" or the "Company") announces that it has agreed to sell its stake in Anglian Water Group ("AWG"), the parent company of Anglian Water, the supplier of water and water recycling services to over six million domestic and business customers in the east of England and Hartlepool. The acquirer is a consortium of Dalmore Capital and GLIL Infrastructure LLP (the infrastructure investment joint venture between five local Government pension funds).

The sale is conditional on certain third party consents and completion is expected in early 2018. Estimated gross proceeds for 3i Infrastructure are approximately £395 million. This compares to a valuation of £288 million at 30 September 2017.

3i Infrastructure acquired its stake upon its IPO in 2007, following the take-private of AWG in 2006 by a consortium of investors. In the period since the original acquisition, AWG has invested over £4 billion to replace ageing infrastructure, improve resilience and address the imbalance between supply and demand in one of the UK's driest regions. Through its innovative Love Every Drop strategy, AWG has reduced service interruptions, pollution incidents and leakage to record low levels. For the financial year to March 2016, AWG ranked second among the Water and Sewerage Companies in Ofwat's Customer Service Survey.

 

AWG's commitment to responsible development was recognised when it was named Responsible Business of the Year 2017 by Business in the Community. AWG employs 4,500 people and, in December 2017, it was ranked second in Glassdoor's list of the top 20 best places to work in the UK.

 

Richard Laing, Chairman of 3i Infrastructure plc, commented, "AWG was part of 3i Infrastructure's seed portfolio and has proved a good investment for the Company over the past ten years. We believe that now is an appropriate time for the Company to realise its stake. Subject to completion of this sale and that of Elenia, 3i Infrastructure expects to have a significant cash balance by the end of the first quarter of 2018. Consistent with our policy of managing our balance sheet efficiently, the Board of Directors will be considering the potential for returning surplus cash to shareholders."

 

Phil White, Managing Partner and Head of Infrastructure, 3i Investments plc, commented, "We would like to thank CEO Peter Simpson, his management team and the staff at AWG for their dedication and achievements during our period of ownership, supported by the 3i team and our co-shareholders. AWG is an exceptional company and we wish the team well for the future.

"We have developed a good pipeline of potential opportunities for 3i Infrastructure that are consistent with the Company's return objectives, and we expect to progress several of these over the coming months."

3i Infrastructure's 10.3% stake is held by 3i Osprey LP alongside a further 4.7% held on behalf of other investors. 3i Osprey LP is selling its entire 15% stake. 

-ENDS-

For further information, contact:

 

 

Thomas Fodor

Investor enquiries

 

Kathryn van der Kroft

Media enquiries

 

 

Tel: +44 7738 345 988

Email: thomas.fodor@3i.com

 

Tel: +44 20 7975 3021

Email: kathryn.vanderkroft@3i.com

 

 

 

Notes to editors:

 

About 3i Infrastructure plc

 

3i Infrastructure plc is a Jersey-incorporated, closed-ended investment company, listed on the London Stock Exchange and regulated by the Jersey Financial Services Commission. The Company is a long-term investor in infrastructure businesses and assets. The Company's market focus is on economic infrastructure and greenfield projects in developed economies, principally in Europe, investing in operating businesses and projects which generate long-term yield and capital growth.

 

3i Investments plc, a wholly-owned subsidiary of 3i Group plc, is authorised and regulated in the UK by the Financial Conduct Authority and acts as Investment Adviser to 3i Infrastructure plc.

 

 

About AWG

 

Anglian Water is the largest water and water recycling company in England and Wales by geographic area, serving more than six million customers. It covers a region that stretches from the Humber north of Grimsby to the Thames estuary, and from Buckinghamshire to Lowestoft. The population it serves is one of the fastest growing in the UK, in a region that receives just two-thirds the country's average rainfall. The company is Business in the Community's Responsible Business of the Year for 2017, and received a Queens Award for Enterprise for Sustainable Development in 2015.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DISBSBDDGGBBGRR
Date   Source Headline
4th Aug 20098:47 amRNSSuccessful IPO of Adani Power
31st Jul 20091:37 pmRNSTotal Voting Rights
16th Jul 20097:00 amRNSInterim Management Statement
7th Jul 20095:05 pmRNSDoc re. AGM resolutions
7th Jul 20094:51 pmRNSResult of AGM
1st Jul 200911:54 amRNSPortfolio Update
30th Jun 20091:42 pmRNSTotal Voting Rights
17th Jun 20094:19 pmRNSHolding(s) in Company
17th Jun 20093:37 pmRNSBlocklisting Interim Review
5th Jun 20092:04 pmRNSFinal dividend 2009: payment calendar confirmation
3rd Jun 20093:35 pmRNSAnnual Information Update
29th May 20091:00 pmRNSTotal Voting Rights
21st May 20099:28 amRNSDocuments for inspection
11th May 20091:25 pmRNSHolding(s) in Company
7th May 20097:00 amRNSFinal Results
30th Apr 20093:50 pmRNSTotal Voting Rights
2nd Apr 20093:41 pmRNSPortfolio Update
31st Mar 20093:22 pmRNSTotal Voting Rights
31st Mar 20093:22 pmRNSTotal Voting Rights
27th Mar 20097:00 amRNSPre-close period briefing
27th Feb 20092:51 pmRNSTotal Voting Rights
24th Feb 20094:06 pmRNSHolding(s) in Company
24th Feb 200911:06 amRNSDraw down of commitment
19th Feb 20092:02 pmRNSSale of shares in 3i Infrastructure plc
19th Feb 20097:00 amRNSSale of shares in 3i Infrastructure plc
30th Jan 20092:02 pmRNSTotal Voting Rights
30th Jan 20097:00 amRNSInterim Management Statement
5th Jan 20093:56 pmRNSPortfolio Update
31st Dec 200812:42 pmRNSSecond Price Monitoring Extn
31st Dec 200812:35 pmRNSPrice Monitoring Extension
31st Dec 200811:28 amRNSTotal Voting Rights
19th Dec 20084:42 pmRNSSecond Price Monitoring Extn
19th Dec 20084:38 pmRNSPrice Monitoring Extension
16th Dec 20087:00 amRNSAdditional Listing
15th Dec 20085:07 pmRNSAsset Divestment
28th Nov 20082:50 pmRNSTotal Voting Rights
21st Nov 20084:40 pmRNSPrice Monitoring Extension
17th Nov 20085:31 pmRNSDirectorate Change
14th Nov 20084:39 pmRNSDirector/PDMR Shareholding
12th Nov 20084:54 pmRNSDocuments for inspection
3rd Nov 20087:00 amRNSInterim Results
31st Oct 20083:13 pmRNSTotal Voting Rights
2nd Oct 20084:55 pmRNSPortfolio Update
30th Sep 20084:29 pmRNSTotal Voting Rights
29th Sep 20087:00 amRNSPre-close period briefing
29th Aug 20082:13 pmRNSTotal Voting Rights
21st Aug 20083:15 pmRNSDirector/PDMR Shareholding
31st Jul 20084:51 pmRNSTotal Voting Rights
28th Jul 20084:54 pmRNSDoc re. AGM resolutions
28th Jul 20084:53 pmRNSResult of AGM

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

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.