- 3i Infrastructure said it had agreed to sell its 33.3% stake in Cross London Trains to a consortium of Dalmore and Equitix funds for expected proceeds of £333m.

Cross London Trains was established to procure and lease the rolling stock for the Thameslink passenger rail franchise. The acquirer is a consortium of Dalmore and Equitix funds.

The expected sale price compared to an asset valuation of £271m at 30 September.

Adjusting for the estimated proceeds, the pro-forma September 2018 net asset value of 3i was estimated to have increased to 229.3 pence per share.

'Cross London Trains has proved a very good investment for the company, generating significant value for our shareholders,' chairman said.

'Having supported the project through design, manufacturing and delivery, we believe that now is an appropriate time for the company to realise its stake.'

At 1:39pm: (LON:3IN) 3i Infrastructure Ltd share price was +8.2p at 274.7p

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