3i Infrastructure plc completes the sale of its stake in Cross London Trains and the acquisition of Tampnet
3i Infrastructure plc (“3i Infrastructure”) yesterday completed the sale of its 33.3% stake in Cross London Trains (“XLT”) following the satisfaction of certain conditions. The sale, to a consortium of Dalmore and Equitix funds, was announced on 5 February 2019 with proceeds to 3i Infrastructure of £333 million. XLT was established to procure and lease the rolling stock for use on the Thameslink passenger rail franchise.
3i Infrastructure today completed the acquisition of Tampnet following the receipt of regulatory approvals in Europe and the USA. 3i Infrastructure has invested €226 million alongside Danish pension fund ATP, with each party acquiring 50%. 3i Infrastructure’s investment manager, 3i Investments plc, will manage the investment on behalf of the consortium. Tampnet is the leading offshore telecoms network operator in the North Sea and the Gulf of Mexico. The transaction was announced on 27 July 2018.
For further information, contact:
Tel: +44 20 7975 3469
Kathryn van der Kroft
Tel: +44 20 7975 3021
Notes to editors:
About 3i Infrastructure plc
3i Infrastructure plc is a Jersey-incorporated, closed-ended investment company, an approved UK Investment Trust (with effect from 15 October 2018), listed on the London Stock Exchange and regulated by the Jersey Financial Services Commission. It is a long-term investor in infrastructure businesses and assets. Its market focus is on economic infrastructure and greenfield projects in developed economies, principally in Europe, investing in operating businesses and projects which generate long-term yield and capital growth.
3i Investments plc, a wholly-owned subsidiary of 3i Group plc, is authorised and regulated in the UK by the Financial Conduct Authority and is the investment manager of 3i Infrastructure plc.