3i Infrastructure Regulatory News (3IN)

28 Sep 2007 07:02

3i Infrastructure Ltd28 September 2007 28 September 2007 3i Infrastructure Limited - Pre-close period briefing 3i Infrastructure Limited ("3i Infrastructure", or "the Company"), an investmentcompany focusing on infrastructure investment opportunities globally, todayprovides a pre-close update ahead of its interim results for the period ending30 September 2007, which are expected to be announced on 22 November 2007. Peter Sedgwick, Chairman of 3i Infrastructure, said: "3i Infrastructure has madegood progress towards delivering the targets set out at IPO. Over half of theequity raised at IPO has already been invested in a portfolio of geographicallydiversified assets, confirming the benefits of the Company's access to 3i'sinternational network. The assets in our portfolio are performing well and aregenerating returns in line with expectations." 1. Investments Of the £700 million raised at IPO, 3i Infrastructure has invested a total of£357 million in the period to 31 August 2007. This includes the £234 millionacquisition of its initial portfolio from 3i Group at flotation. The largest investment, after the purchase of the initial portfolio, in theperiod to 31 August was the acquisition of a 45 per cent interest in threeOiltanking GmbH subsidiaries ("the OT Companies") - Oiltanking SingaporeLimited, Oiltanking Amsterdam BV and Oiltanking Malta Limited - which provideoil and chemical storage facilities. The consideration for the asset comprised€115 million equity from 3i Infrastructure. The transaction completed on 3August 2007 and the investment team has already established an excellent workingrelationship with the existing management of the OT Companies. While no significant investments have been made by the Company since thepublication of the Interim Management Statement on 17 August 2007, since thatdate 3i Infrastructure has committed US$250 million to the 3i IndiaInfrastructure Fund ("the Fund"), to access opportunities in the rapidly growingIndian infrastructure market. The commitment was approved by the Company'sshareholders at an Extraordinary General Meeting on 10 September 2007 and isdeemed to be an attractive opportunity to gain access to a diversified pool ofquality assets in the Indian infrastructure market. The Fund has built a strongpipeline of activity and has been funded in anticipation of investing in thenear future. 2. Returns Returns for the period to 31 August 2007 are in line with our expectations. An important element in the determination of the results for the period to 30September 2007 will be the valuation exercise carried out on the investmentportfolio at that date. On 22 November 2007 3i Infrastructure will issue interim results for the periodto 30 September 2007, including the net asset value as at 30 September 2007. 3. Inclusion in the FTSE 250 and FTSE All-Share indices On 24 September 2007 3i Infrastructure became a constituent of the FTSE 250Index and FTSE All-Share Index. 4. Developments at Investment Adviser The Investment Advisory team has continued to strengthen its capabilities in theUK and internationally and has grown the investment team, with the recruitmentof five new investment professionals, one in the UK, three in India and one inFrankfurt, all of whom are focussed on infrastructure investing. Ends For information please contact:Michael Queen Managing Partner, Infrastructure, 3i Group plc +44 20 7975 3572Silvia Santoro Investor Relations +44 20 7975 3258Jennifer Letki 3i Press Office +44 20 7975 3190Lydia Pretzlik Maitland +44 20 7379 5151 This statement aims to give an indication of 3i Infrastructure's performance anddevelopment from incorporation to 28 September 2007. These indications reflectthe Board's current view. They are subject to a number of risks anduncertainties and could change. In particular, an important element in thedetermination of the Company's results for the period to 30 September 2007 isthe detailed valuation exercise carried out on its investment portfolio as atthat date. The final results for the period to 30 September 2007, due to bereported on 22 November 2007, may differ accordingly. Factors which could causeor contribute to such differences include, but are not limited to, generaleconomic and market conditions and specific factors affecting the financialprospects or performance of individual investments within 3i Infrastructure'sportfolio. This press release is not for distribution (directly or indirectly) in or to theUnited States, Canada, Australia or Japan and is not an offer of securities forsale in or into the United States, Canada, Australia or Japan. Securities maynot be offered or sold in the United States absent registration under the U.S.Securities Act of 1933, as amended (the "Securities Act"), or an exemption fromregistration under the Securities Act. Any public offering to be made in theUnited States will be made by means of a prospectus that may be obtained fromthe issuer or selling security holder and will contain detailed informationabout 3i Group plc, 3i Infrastructure Limited, 3i India Infrastructure Fund andmanagement, as applicable, as well as financial statements. No public offeringin the United States is currently contemplated. This information is provided by RNS The company news service from the London Stock Exchange