REG - 3i Infrastructure - Partial syndication of investment in ESVAGT

3i InfrastructureAnnouncement

25/05/2022 08:31

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RNS Number : 7352M  3i Infrastructure PLC  25 May 2022

 

3i Infrastructure plc announces partial syndication of its investment in
ESVAGT

25 may 2022

 

3i Infrastructure plc ("3i Infrastructure" or "the Company") has signed an
agreement to syndicate 16.9% of its stake in ESVAGT to 3i Aura L.P., a
newly-established vehicle managed by 3i Investments plc and funded by three
institutional investors.

 

ESVAGT is the market leader in the fast growing segment of service operation
vessels for the offshore wind industry, and is also a leading provider of
emergency rescue and response vessels and related services to the offshore
energy industry in and around the North Sea and the Barents Sea.

 

3i Infrastructure's holding in ESVAGT will decrease from 100% to 83.1%, for
consideration of c.DKK785m, in line with the valuation as at 31 March 2022.
 The proceeds will be used to repay part of the Company's outstanding RCF
balance.

 

Following completion, 3i Investments plc, the Company's Investment Manager,
will continue to manage 100% of ESVAGT.

 

Phil White, Managing Partner and Head of Infrastructure, 3i Investments plc,
commented:

 

"This transaction helps 3i Infrastructure to maintain a balanced portfolio and
provides useful additional liquidity. We are pleased to have attracted three
high quality investors alongside us as we continue to work with ESVAGT's
management team to take advantage of its future growth potential, both in
Europe and the US."

 

-ENDS-

 

For further information, contact:

 Thomas Fodor            Tel: +44 207 975 3469

 Investor enquiries      Email: thomas.fodor@3i.com (mailto:thomas.fodor@3i.com)

 Kathryn van der Kroft   Tel: +44 20 7975 3021

 Media enquiries         Email: kathryn.vanderkroft@3i.com (mailto:kathryn.vanderkroft@3i.com)

 

Notes to editors:

 

3i Infrastructure plc

 

3i Infrastructure plc is a Jersey-incorporated, closed-ended investment
company and an approved UK Investment Trust, listed on the London Stock
Exchange and regulated by the Jersey Financial Services Commission. The
Company's purpose is to invest responsibly in infrastructure, delivering
long-term sustainable returns to shareholders and having a positive impact on
its portfolio companies and their stakeholders.

 

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 Manager of 3i Infrastructure plc.

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