3i Infrastructure plc completes the sale of its stake in Elenia

3i Infrastructure plc ("3i Infrastructure" or the “Company") has completed the sale of its stake in Elenia, following satisfaction of the relevant EU Merger Regulation condition.

Elenia is the owner and operator of the second largest electricity distribution business in Finland and a complementary district heating business. The acquirer is a consortium comprising Allianz Capital Partners on behalf of the Allianz Group, Macquarie Infrastructure and Real Assets and Valtion Eläkerahasto, the State Pension Fund of Finland. The transaction was announced on 13 December 2017.

The Company has repaid all cash drawn from its Revolving Credit Facility (“RCF”), with £51 million of letters of credit remaining drawn, and has cancelled the temporary accordion facility. We expect that the Company’s cash balance will be below £300 million after payment of the special dividend of £425 million announced on 21 February 2018, expenses and payment of a final dividend for the financial year. Together with the undrawn balance of the RCF of £249 million, the Company has good liquidity available for future investment.

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