Overview
3i Infrastructure is a listed infrastructure investment company investing mainly in Europe and Asia, with a focus on the Utilities, Transportation and Social Infrastructure sectors and with an overall objective of providing shareholders with a total return of 10% per annum, 5.5% of which to be delivered through an annual distribution yield. You can access their website by clicking here.
Fundamentals
Price
Research History
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08 Jun 2020 11 min read
QuotedData’s Economic Roundup – June 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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07 Apr 2020 7 min read
QuotedData’s Economic Roundup – April 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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24 Jan 2020 28 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
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12 Nov 2019 7 min read
QuotedData’s investment companies roundup – November 2019
Investment Companies Roundup Kindly sponsored by Baillie Gifford New research Over October, we published notes on Pacific Horizon, Seneca Global Income & Growth, Premier Global Infrastructure, Polar Capital Global Financials, Ecofin Global Utilities and Infrastructure, Aberdeen Standard European Logistics Income and Herald. Additionally, as part of our enhanced coverage of the property sector, we launched […]
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16 Oct 2018 2 min read
Quarterly Investment Companies Roundup – Third Quarter 2018
Quarterly Investment Companies Roundup – Third Quarter 2018 Global equities delivered positive returns over the third quarter of 2018. This was principally because of strength in the US market. Political uncertainty and concerns about global trade held back other regions. Generally, government bond yields rose over the quarter. The UK equity market fell as the Bank of […]
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15 Aug 2018 2 min read
QuotedData’s investment companies roundup – August 2018
QuotedData’s investment companies roundup – August 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of July 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in July Tritax EuroBox raised its maximum target of £300 million in an […]
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11 May 2018 1 min read
QuotedData’s investment companies roundup – May 2018
QuotedData investment companies roundup – May 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2018. Kindly sponsored by Baillie Gifford. India Capital Growth has experience a rebound in performance in the past month, as […]
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25 Apr 2018 2 min read
Quarterly investment companies roundup – First quarter 2018
Quarterly investment companies roundup – First quarter 2018 Quarterly investment companies roundup – First quarter 2018 – Global equity markets declined in the first quarter of 2018. Concerns about US interest rate rises were the feature of the first half of the quarter. However, worries about global trade took over in the second part, particularly […]
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18 Apr 2018 1 min read
QuotedData’s investment companies roundup – April 2018
QuotedData investment companies roundup – April 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of March 2018. Kindly sponsored by Baillie Gifford. Stock markets have suffered their first meaningful fall for nearly two years. At the quarter end, […]
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18 Jan 2018 2 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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12 Jul 2017 2 min read
QuotedData investment companies roundup – July 2017
QuotedData investment companies roundup – July 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2017. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised in July Newly launched in June were […]
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14 Jun 2017 2 min read
QuotedData investment companies roundup – June 2017
QuotedData investment companies roundup – June 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of May 2017. Kindly sponsored by Baillie Gifford. June Investment Companies Roundup Japan was one of the best places to be […]
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31 Jan 2017 1 min read
QuotedData – 2016 review of the year
Our review of 2016 includes performance data, significant moves in discounts and premiums, money raised and money handed back, major news stories and links to the research we have published including our guide to investment companies. 2016 Annual roundup
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27 Oct 2016 1 min read
Quarterly investment companies roundup – Third quarter 2016
Q3 saw the market adapt to life post the UK’s EU referendum. Sterling continued to fall but most stock markets stabilised and discounts narrowed across most sectors. While the US election is dominating headlines, it does not seem to be having much impact on markets so far. q3-quarterly-roundup
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27 Apr 2015 1 min read
The importance of income – where to find it?
Life used to be simpler. If you had a bit of spare cash or you wanted to save up for something you’d just stick some money in a bank or building society account. If you had a nest egg and wanted to invest it in something safe and live off the income, you’d maybe buy […]
News
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27 Jan 2021 2 min read
QuotedData’s morning briefing 27 January 2021
In QuotedData’s morning briefing 27 January 2021 – Henderson Smaller Companies (HSL) delivered total NAV and share price returns of 20.6% and 27.7% over its six-months interim results period to 30 November 2020. HSL said that its NAV performance was 6.3% ahead of the average of our peers in the AIC UK smaller companies sector. 3i […]
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11 Nov 2020 5 min read
3i Infrastructure looks to build on strong results
Over its half-year results period to 30 September 2020, 3i Infrastructure (3IN) generated a total return of 3.8%. 3IN says that the portfolio is performing in line with expectations, both financially and operationally. 3IN delivered a total shareholder return of 18.9% in the period (the company notes that the FTSE 250 index returned 16.0% over […]
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30 Sep 2020 3 min read
3i Infrastructure update – portfolio holding up well but lower power prices to affect valuations
In an update covering the period from 1 April to 29 September 2020, 3i Infrastructure (3IN) said that “most portfolio companies have met or exceeded the expectations we set at the start of the period, although lower power price forecasts, ongoing effects of the pandemic and the slow recovery in air travel will affect some […]
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09 Jul 2020 2 min read
QuotedData’s morning briefing 9 July 2020
In QuotedData’s morning briefing 9 July 2020: NewRiver REIT says 81% of retailers in its portfolio are now open for business (81% based on gross rent). Of the rent due on 24 June, 71% has either been collected or had alternative payment terms agreed with occupiers. 1% of rents have been waived. Rents collected for 25 March […]
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07 May 2020 2 min read
3i Infrastructure let down by falling premium
3i Infrastructure let down by falling premium – in what was otherwise a good year, a reduction in the premium to asset value that the shares trade at left shareholders nursing a loss. 3i Infrastructure reports an 11.4% return on NAV for the year ended 31 March 2020. It hit its 9.2p dividend target and […]
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20 Mar 2020 6 min read
3i Infrastructure says portfolio impact has been limited so far and that it is in a strong cash position
3i Infrastructure (3IN) has released a performance update for the period from 1 October 2019 to 18 March 2020. With a market capitalisation of about £1.95bn, 3IN is one of the largest investment trusts, alongside two other infrastructure sector companies, HICL (HICL) and International Public Partnerships (IPP). Financial update – £720m cash available Total available liquidity of over […]
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19 Dec 2019 2 min read
3i Infrastructure sells Wireless Infrastructure stake
3i Infrastructure sells Wireless Infrastructure stake – 3i Infrastructure has agreed to sell its 93% stake in Wireless Infrastructure Group (“WIG”), the independent wireless infrastructure operator headquartered in the UK, to Brookfield Infrastructure. The sale values the company’s stake in WIG at approximately GBP387 million, compared to a valuation of GBP291 million at 30 September 2019. […]
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07 Nov 2019 1 min read
QuotedData’s other news 7 November
In QuotedData’s other news 7 November – 3i Infrastructure (3IN) delivered a 5.8% total return in its NAV over the half-year period to 30 September 2019. The company made a significant new investment in Ionisos (£186m) over the period and in October 3IN raised new equity worth £223m. GCP Asset Backed Income (GABI) has announced the […]
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11 Oct 2019 1 min read
3i Infrastructure placing raises £222.8m
3i Infrastructure placing raises £222.8m – 3i Infrastructure (3IN) has raised gross proceeds of around £222.8m in a share placing that represents approximately 9.9% of the company’s issued ordinary share capital prior to the placing. 3IN say the issue was substantially oversubscribed and that it represents a discount of approximately 7.6% to the share price immediately prior […]
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03 Oct 2019 1 min read
QuotedData’s other news 3 October 2019
In QuotedData’s other news 3 October 2019 3i Infrastructure will issue up to 81m new shares through a placing. The price will be determined through a book build – where investors say what price they are prepared to pay and the deal is done at the highest price that allows the fund to issue all the […]
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26 Sep 2019 1 min read
QuotedData’s other news 26 September 2019
In QuotedData’s other news 26 September 2019: 3i Infrastructure has completed the purchase of cold storage company, Ionisos, that was announced in July Custodian REIT has extended a borrowing facility that was coming to the end of its life by three years and expanded it too. Lloyds Bank agreed to increase the total funds available under […]
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26 Jul 2019 3 min read
QuotedData’s other news 26 July 2019
In QuotedData’s other news 26 July 2019: Scottish American (SCAM) has announced its interim results for the six-months ended 30 June 2016, in which it modestly outperformed its benchmark. SCAM’s net asset value total return for the first six months of 2019 was 17.3% and the share price total return was 17.5%. In contrast, it says […]
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2 min read
Cold and sterile – 3i Infrastructure to acquire Ionisos
3i Infrastructure plc (3IN) has announced that it has agreed to invest approximately €220m to acquire up to 100% of Ionisos, which it describes as a leading owner and operator of cold sterilisation facilities servicing the medical, pharmaceutical and cosmetics industries. The seller is Ardian Expansion and the transaction is expected to complete in September. […]
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09 May 2019 1 min read
QuotedData’s other news 9 May 2019
Baker Steel has announced details of its tender – a tender offer for up to 9,677,498 shares (about one share for every 12 issued shares) at a tender price of 51p per share. The price represents a premium of 10.9% to the closing bid price on 7 May 2019 and a discount of 10.2% to the […]
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15 Mar 2019 2 min read
3i Infrastructure seals Cross London sale and Tampnet buy
3i Infrastructure seals Cross London sale and Tampnet buy – Following on from the completion of the sale of its 33.3% stake in Cross London on March 14, 2019, for £333mn, 3i Infrastructure plc (3I) has today finalised the acquisition of Tampnet for €226 million following the receipt of regulatory approvals in Europe and the USA. […]
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05 Feb 2019 1 min read
3i Infrastructure to sell Cross-London trains
3i Infrastructure to sell Cross-London trains – 3i Infrastructure has agreed to sell its 33.3% stake in Cross London Trains, a company established to procure and lease the rolling stock for use on the Thameslink passenger rail franchise. The acquirer is a consortium of Dalmore and Equitix funds. The sale is conditional on certain third party […]
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15 Jan 2019 10 min read
Aberdeen Diversified Income and Growth bailed out by narrowing discount
Aberdeen Diversified Income and Growth bailed out by narrowing discount – Aberdeen Diversified Income & Growth has published results for the year ended 30 September 2018. Over the period, the NAV rose 2.5% on a total return basis. Fortunately, however, the shares moved from a 3.1% discount to a 3.2% premium. The share price ended the year […]
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16 Oct 2018 1 min read
3i Infrastructure moves tax residence to the UK
3i Infrastructure moves tax residence to the UK – following the introduction of the BEPS (Base Erosion and Profit Shifting) tax rules, and in order to mitigate the risk of tax leakage for the company, the board of 3i Infrastructure (3IN) announced its intention to move the tax domicile and management of the company to the UK with effect […]
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27 Jul 2018 2 min read
3i Infrastructure buys Tampnet stake
3i Infrastructure buys Tampnet stake – 3i Infrastructure will invest approximately EUR220 million for the acquisition of a stake in Tampnet AS, the leading independent offshore telecoms network operator in the North Sea and the Gulf of Mexico. 3i Infrastructure is investing in a consortium with Danish pension fund ATP, with each party acquiring up to 50% […]
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03 Apr 2018 2 min read
3i Infrastructure makes investment in Attero
3i Infrastructure makes investment in Attero – 3i Infrastructure will invest €201m to acquire a 50% stake in Attero, one of the largest waste treatment and disposal companies in the Netherlands. 3i Infrastructure will invest alongside DWS’s infrastructure investment business (formerly Deutsche Asset Management) to acquire Attero from Waterland, a Dutch private equity fund. 3i […]
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05 Mar 2018 2 min read
3i Infrastructure funds Infinis investment in Alkane Energy
3i Infrastructure funds Infinis investment in Alkane Energy – 3i Infrastructure intends to increase its investment in Infinis by c. £125 million to fund Infinis’s acquisition of Alkane Energy, an independent power generator from both coal mine methane and reserve power operations and the largest generator from coal mine methane in the UK. Completion is […]
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21 Feb 2018 1 min read
3I Infrastructure Board approves payment of the proposed special dividend
3I Infrastructure Board approves payment of the proposed special dividend. Further to the announcement made on 31 January 2018 of the Company’s intention to return surplus cash to shareholders, the Board of 3i Infrastructure (3IN LN) has approved the payment of a special dividend of £425 million. The Company will return £425 million to shareholders by […]
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27 Dec 2017 2 min read
3i Infrastructure tops up WIG investment
3i Infrastructure tops up WIG investment – 3i Infrastructure has agreed to increase its investment in Wireless Infrastructure Group (“WIG”) and to acquire the stake owned by Barings LLC’s client accounts. The expected investment by 3i Infrastructure is GBP186m which will take 3i Infrastructure’s ownership of WIG to 91% of the equity with the balance […]
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22 Dec 2017 2 min read
3i Infrastructure refinances ESVAGT
3i Infrastructure refinances ESVAGT – 3i Infrastructure plc has successfully completed a EUR 376 million refinancing of ESVAGT. The refinancing comprises bank and institutional tranches with a spread of maturities of up to 10 years, as well as associated capex and revolving credit facilities. In conjunction with the refinancing, 3i Infrastructure and its ESVAGT co-shareholder, AMP Capital, […]
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18 Dec 2017 2 min read
3i Infrastructure sells Anglian Water stake
3i Infrastructure sells Anglian Water stake – 3i Infrastructure has agreed to sell its stake in Anglian Water Group, 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 […]
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13 Dec 2017 3 min read
3i Infrastructure gets bid for Elenia
3i Infrastructure gets bid for Elenia – In a statement released on 12 December, 3i Infrastructure said “Further to recent speculation, the board of 3i Infrastructure plc confirms that bids have been received from potential acquirers of Elenia. These bids are currently being considered by the company and the other shareholders in Elenia. The company […]
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27 Jun 2017 3 min read
3i Infrastructure considering sale of Anglian Water
3i Infrastructure considering sale of Anglian Water. The Board of 3i Infrastructure plc says it notes the press speculation regarding a potential sale of its interest in Anglian Water Group. The company confirms that it is considering options in relation to its holding in Anglian Water which is held through 3i Osprey LP, a partnership […]
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11 May 2017 4 min read
3i Infrastructure invests £479m in year to end March
In what seems like record time (less than six weeks) , 3i Infrastructure has today published its results for the year ended 31 March 2017. The chairman says that the company has had a strong year, completing six new investments totaling GBP479 million, executing a successful capital raise and delivering their target dividend of 7.55 pence per share for […]
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06 Mar 2017 1 min read
3i completes the sale of 3i Debt Management to Investcorp
3i has announced that it completed the sale of 3i Debt Management to Investcorp. The transaction generates total cash proceeds to 3i of £270 million, of which £34 million relates to the repayment of loans provided to 3i Debt Management to fund two CLO warehouses, and an exceptional profit on disposal of £47 million, which […]
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03 Nov 2016 2 min read
3i Infrastructure on track as it deploys its cash pile
3i Infrastructure says it generated a total return of GBP74 million in the six months to 30 September 2016, or 5.0%, in line with its target of 8% to 10% per annum to be achieved over the medium term. Foreign exchange movements in the period, following the depreciation of sterling, contributed 1.2% to the total return. […]
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31 Oct 2016 2 min read
3i Infrastructure buys Infinis
3i Infrastructure plc has signed an agreement to invest approximately £185m to buy 100% of Infinis plc and its subsidiaries. These own the landfill gas (“LFG) interests of the Infinis Group. Infinis is the leading generator of electricity from LFG in the UK. LFG is a naturally occurring product resulting from the decomposition of organic […]
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17 Oct 2016 1 min read
10 YEARS OF PA: The birth of infrastructure funds, to property in turmoil
The investment company sector has changed considerably over the past ten years, as back in October 2006 we were still enjoying the dying days of the credit boom. read more here
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05 Oct 2016 2 min read
3i Infrastructure investing €6.5m in the A27/A1 motorway in the Netherlands
3i Infrastructure has announced that it has committed to invest €6.5m in the A27/A1 primary Public Private Partnership project in the Netherlands. The company is investing as part of a consortium, 3Angle B.V. (3Angle), which also comprises Heijmans Capital (a joint venture between Heijmans and 3i Infrastructure) and Fluor Infrastructure. This investment is 3i Infrastructure’s […]
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28 Jul 2016 8 min read
F&C Managed Portfolio beats benchmark despite widening discounts
F&C Managed Portfolio reports that, for the company’s financial year to 31 May 2016, the NAV total return (i.e. adding dividends paid to capital performance) was -4.8% for the Income shares and -4.5% for the Growth shares which represented outperformance against the -6.3% total return for the FTSE All-Share Index, the benchmark index for both […]
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14 Jul 2016 1 min read
3i Infrastructure makes investment in renewable energy company
3i Infrastructure has signed an agreement to invest approximately EUR69m, subject to completion adjustments, in Valorem. Headquartered in Bègles, France, Valorem is a leading independent renewable energy development and operating company. 3i Infrastructure will acquire a 28.5% interest in Valorem and provide further capital to the company through a subordinated debt instrument with the remaining […]
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12 May 2016 3 min read
3i Infrastructure is raising £350m to fund new investments
Following the release of its interim results, 3i Infrastructure has announced the launch of £350m capital raising, by way of an open offer, placing and intermediaries offer. The company says that the proceeds to be used to fund the completion of its investments in Wireless Infrastructure Group and TCR, totalling approximately £230m, and to make […]
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29 Apr 2016 3 min read
3i Infrastructure announces two new investments
3i Infrastructure has today announced two new investments – a €200m investment in TCR, Europe’s largest owner of aircraft ground support equipment and a €5m investment in a PPP backing the regeneration of Hart van Zuid in the Netherlands. 3I Infrastructure will invest approximately €200m, subject to completion adjustments, in TCR, in a consortium with Deutsche […]
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07 Apr 2016 2 min read
3i Infrastructure to acquire 36% of Wireless Infrastructure Group for £75m
3i Infrastructure has announced that it has signed an agreement to acquire a 36% economic interest in Wireless Infrastructure Group, investing approximately £75m and joining existing majority shareholder Wood Creek Capital Management and the management team as shareholders. Completion of the transaction is conditional only upon receiving clearance from the European Commission under the EU […]
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28 Jan 2016 2 min read
F&C Managed Portfolio beats UK market
F&C Managed Portfolio Trust has published interim results for the six months ended 30 November 2015, announcing a net asset value total return of -5.1% for the Income shares and -2.4% for the Growth shares compared to the FTSE All-Share Index return of -6.4%. The key drivers of the performance of the Growth Portfolio were […]
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06 Nov 2015 1 min read
3i Infrastructure’s Finnish electricity business boosts returns
3i Infrastructure has published interim results covering the six month period that ended on 30 September 2015. It generated a total return on net assets of 6.5% over the period (adjusting for the payment of a special dividend at the end of July). The interim dividend is 3.625p – in line with their objective of […]
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21 Aug 2015 1 min read
3i Infrastructure invests in offshore transmission project
3i Infrastructure is investing £23m to take a 50% stake in the West of Duddon Sands offshore transmission project. The vendors are Dong Energy and Scottish Power Renewables. The remaining equity in the project will be acquired by Macquarie Capital. The consortium was selected as preferred bidder following a competitive tender run by Ofgem in July 2014. The project […]
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07 Jul 2015 1 min read
3i Infrastructure in deal to buy North Sea rescue and response business
3i Infrastructure and AMP Capital will jointly acquire 100% of Danish company ESVAGT from Maersk Group. 3i Infrastructure will be investing approximately £109m for a 50% interest in ESVAGT and will have an equal shareholding with AMP Capital. Headquartered in Esbjerg, Denmark, ESVAGT is a leading provider of emergency rescue and response vessels and related […]
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12 May 2015 2 min read
3i Infrastructure planning return of capital
3i Infrastructure’s results for the year ended 31 March 2015 demonstrate the positive impact on the business from their sale of Eversholt Rail. The total return on net assets for the period was 24.6%. The dividend is upped from 6.7p to 7p and a 17p special dividend is planned for July. They plan to pay a […]
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20 Feb 2015 1 min read
3i Infrastructure buys Benelux oil tanking business
3i Infrastructure is paying €111m for a 45% interest in Oiltanking Terneuzen B.V. in the Netherlands and Oiltanking Ghent N.V. in Belgium. The Oiltanking companies provide storage and related services for refined oil products, chemicals and biofuels. Both companies provide essential services and benefit from locations, facilities and operational capabilities that give them strong appeal […]
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20 Jan 2015 1 min read
3i Infrastructure to sell Eversholt Rail Group for net proceeds of £358m
3i Infrastructure has announced an agreement to sell its stake in Eversholt Rail Group, to CK Investments S.A R.L., generating net proceeds of £358m. At 48.7%, this is a significant uplift on the 30 September 2014 valuation of £240.8m. The transaction is expected to close in March 2015. Eversholt is one of three leading rail stock companies in […]
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14 Nov 2014 1 min read
3i Infrastructure completes French prison deal
3IN : 3i Infrastructure completes French prison deal 3i Infrastructure has announced that the deal to build a new prison, La Sante, in Paris, that was referred to in its recent interim statement, has now been completed. It will invest €11.7m to take an 80% stake in the project. The La Santé primary PPP project (the […]
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06 Nov 2014 1 min read
3i Infrastructure makes 10% in first half
3IN : 3i Infrastructure makes 10% in first half Strong performance from 3i Infrastructure’s European portfolio and rolling stock investments helped drive a 10.6% return on net assets for the fund for the six months that ended on 30th September. 3i Infrastructure holds two rail rolling stock investments – Eversholt Rail and XLT. Strong competition […]
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09 May 2014 1 min read
3i Infrastructure: 3IN – full year results
3i Infrastructure has published its results for the year ended 31 March 2014. Over the year it generated a total return on net assets of 6.6% (the NAV went to 126.4p from 123.0p and the dividend for the year is 6.7p). Good performance from their investments in Europe was offset by further disappointment in India […]
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31 Mar 2014 1 min read
3i Infrastructure : 3IN – new investment
3i Infrastructure has made a £13.1m commitment to buy a 25% interest in the Mersey Gateway Bridge project a new six lane toll bridge over the Mersey between the towns of Runcorn and Widnes – See more at: www.merseygateway.co.uk
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12 Feb 2014 1 min read
3i Infrastructure : 3IN – management changes
3i Infrastructure has announced that Cressida Hogg is leaving 3i at the end of march “to pursue a senior role outside the group”. Phil White and Ben Loomes will be appointed co-managing partners of the infrastructure business and Neil King will become a Senior Partner.
