Breaking News
Investing Pro 0
New Year’s SALE: Up to 40% OFF InvestingPro+ CLAIM OFFER

3i Infrastructure to sell stake in Wireless Infrastructure Group

Stock Markets Dec 19, 2019 14:01
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
3i Infrastructure to sell stake in Wireless Infrastructure Group
 
III
+9.18%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
3IN
-0.59%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
BN
+0.95%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

(Reuters) - 3i Infrastructure (L:3IN) is selling its 93% stake in Wireless Infrastructure Group (WIG) to Brookfield Infrastructure, two weeks after divesting its British projects portfolio.

The deal values 3i Infrastructure's stake in the British independent wireless infrastructure operator at 387 million pounds ($506.08 million), the British investment firm said in a statement on Thursday, adding that compared to a valuation of 291 million pounds on Sept. 30.

3i Infrastructure is wholly owned by blue-chip private equity firm 3i Group (L:III), while Brookfield Infrastructure is a unit of Canada's Brookfield Asset Management (TO:BAMa).

"We concluded that it is better for shareholders that we sell our interest in WIG at this attractive price and look to recycle the capital into new opportunities," 3i Infrastructure Chairman Richard Laing said in the statement.

Earlier this month, 3i Infrastructure sold its projects portfolio in Britain to a range of buyers for about 194 million pounds, adding that it is also exploring the potential sale of European projects.

The company expects its pro forma cash position to be around 390 million pounds after completing the sales.

Shares in 3i Infrastructure were up 2.1% at 298.5 pence at 1305 GMT.

3i Infrastructure to sell stake in Wireless Infrastructure Group
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
john delaney
john delaney Dec 19, 2019 16:10
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Didn't know that it was wholly owned by 3i.  I thought they had about 30% interest in it.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email