Last checked at 
27 Jun 2013 15:10
27 June 2013
3i Infrastructure plc
New investment: Cross London Trains
3i Infrastructure plc ("3i Infrastructure", or "the Company") today announces it has invested £61.8 million in Cross London Trains alongside Innisfree PFI Secondary Fund 2 LP ("Innisfree") and Siemens Project Ventures ("SPV").
The Department for Transport today awarded a contract worth circa £1.6 billion for the supply of 1,140 new Desiro City commuter rail carriages for the Thameslink route to Siemens plc and Cross London Trains ("XLT").
XLT is the company established to finance and purchase the Desiro City trains from Siemens plc and lease them to the Operator of the Thameslink rail franchise. 3i Infrastructure plc is an equal shareholder in XLT alongside Innisfree and SPV and has invested £61.8 million in this transaction.
Siemens will be responsible for the manufacture and ongoing maintenance of the carriages, which will be delivered to XLT between 2015 and 2018.
Peter Sedgwick, Chairman, 3i Infrastructure, said: "This transaction is immediately accretive to 3i Infrastructure and is expected to deliver income from the current financial year."
Cressida Hogg, Managing Partner, 3i Investments plc, added "The investment in XLT, which will own a key element of London's commuter rail infrastructure, is a significant milestone for 3i Infrastructure and consistent with our view of the market opportunity in primary projects."
Ends
For information, please contact:
Peter Sedgwick | Chairman, 3i Infrastructure plc | +44 1534 711 444 |
Silvia Santoro | Investor and media enquiries | +44 20 7975 3258 |
3i Infrastructure plc is a Jersey-incorporated, closed-ended investment company that invests in infrastructure businesses and assets and is regulated by the Jersey Financial Services Commission. The Company is building a diversified portfolio of infrastructure investments across the globe, with a focus on Europe. As of 31 March 2013, 3i Infrastructure had a portfolio of 14 assets valued at £919 million, and net assets of £1,103 million. The Company listed on the London Stock Exchange in March 2007, raising £703 million in an initial public offering and a further £115 million in a subsequent placing and open offer in July 2008, and is a constituent of the FTSE 250 index.
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.