StockMarketWire.com - 3i Infrastructure has agreed to sell its stake in Anglian Water Group , the parent company of Anglian Water, to a consortium of Dalmore Capital and GLIL Infrastructure, the infrastructure investment joint venture between five local government pension funds.

The sale is conditional on certain third party consents and completion is expected in early 2018.

3i Infrastructure said estimated gross proceeds were approximately £395 million, compared to a valuation of £288 million at the end of September.

3i Infrastructure acquired its stake upon its IPO in 2007, following the take-private of AWG in 2006 by a consortium of investors.

It said that in the period since the original acquisition, AWG had invested over £4 billion to replace ageing infrastructure, improve resilience and address the imbalance between supply and demand in one of the UK's driest regions.




Story provided by StockMarketWire.com