6th Dec 2019 14:06
(Alliance News) - 3i Infrastructure PLC on Friday said it will net GBP194 million after selling some UK assets following a review.
Jersey-based 3i is selling to various buyers, it said, with the strategic review coming after construction was completed on all of the projects.
The assets being sold are stakes in Ayrshire College in Elgin, which has 16 project investments, Mersey Gateway bridge, the Octagon hospital, the West of Duddon Sands offshore transmission project, and an interest in Dalmore Capital Fund.
3i also said it is considering selling its European assets. The remainder of the portfolio would, if that happened, consist entirely of infrastructure businesses.
Chair Richard Laing said: "Our review of the role of operational projects in our portfolio concluded that it was in the best interests of shareholders to sell these assets and realise the value uplift now that they have all entered stable operations. We consider that the prices achieved are attractive."
3i shares were 0.3% higher on Friday afternoon in London at a price of 290.75 pence each.
By George Collard; [email protected]
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