3i Infrastructure sells Cross London Trains stake for £333m

Writer, Stock Market Wire
Tuesday, February 5, 2019 - 13:39

3i Infrastructure said it had agreed to sell its 33.3% stake in Cross London Trains to a consortium of Dalmore and Equitix funds for expected proceeds of £333m.

Cross London Trains was established to procure and lease the rolling stock for the Thameslink passenger rail franchise. The acquirer is a consortium of Dalmore and Equitix funds.

The expected sale price compared to an asset valuation of £271m at 30 September.

Adjusting for the estimated proceeds, the pro-forma September 2018 net asset value of 3i was estimated to have increased to 229.3 pence per share.

'Cross London Trains has proved a very good investment for the company, generating significant value for our shareholders,' chairman said.

'Having supported the project through design, manufacturing and delivery, we believe that now is an appropriate time for the company to realise its stake.'

At 1:39pm: (LON:3IN) 3i Infrastructure Ltd share price was +8.2p at 274.7p

Related content

3i Group remains on track to meet dividend target as portfolio receives boost from acquisitions

Private equity and infrastructure investor 3i Group said it remained on track to meet its dividend target as its portfolio continued to perform in line...

Thu, 04/07/2019 - 07:47

Broker Forecast - RBC Capital Markets issues a broker note on 3i Infrastructure Ltd

RBC Capital Markets today downgrades its investment rating on 3i Infrastructure Ltd (LON:3IN) to sector performer (from outperform).

Broker Forecasts data provided by www.sharesmagazine.co.uk...

Fri, 14/06/2019 - 08:50

Is it worth paying a premium for infrastructure funds?


On the face of it, investing in infrastructure seems like a wise move.

After all, you tend to get a steady stream of income for...

Thu, 06/06/2019 - 00:00

3i completes acquisition of Joulz Diensten for €220m

3i Infrastructure completed the €220m acquisition of Joulz following the receipt of third-party approvals.

Joulz was an owner and provider of essential energy infrastructure equipment...

Wed, 01/05/2019 - 07:59

3i Group on track to meet dividend guidance following sale of stake in Cross London Trains

3i Group said it remained on track to meet its full-year dividend guidance as the company completed the sale of its stake in Cross London...

Fri, 29/03/2019 - 08:28