Sale of shares in 3i Infrastr

RNS Number : 5562N

3i Group PLC

19 February 2009

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.

3i Group plc

19 February 2009

SALE OF SHARES IN 3I INFRASTRUCTURE PLC

3i Group plc ('3i Group') announces its intention to sell at least 55 million existing shares ('Placing Shares') in 3i Infrastructure plc ('3i Infrastructure') representing approximately 6.8 per cent of 3i Infrastructure's issued share capital (the 'Placing'). 3i Group currently holds 347.3 million shares in 3i Infrastructure, or 42.8 per cent of 3i Infrastructure's issued share capital, down from 46.4 per cent immediately after 3i Infrastructure's IPO in March 2007. 

While the Placing reduces 3i Group's holding in 3i Infrastructure, it remains 3i Group's overall strategy to retain a significant long-term shareholding in 3i Infrastructure. 3i Group's strategy continues to be to invest in infrastructure assets principally via its holding in 3i Infrastructure. 

3i Group has agreed to a lock-up of 180 days with respect to its residual holding in 3i Infrastructure. 

Citigroup Global Markets U.K. Equity Limited ('Citi') and JPMorgan Cazenove Limited ('JPMorgan Cazenove') are acting as joint bookrunners and lead managers to the Placing.

The Placing is expected to close at or before the close of business on 19 February 2009. The price per Placing Share and exact number of Placing Shares to be sold in the Placing will be announced thereafter. Citi and JPMorgan Cazenove reserve the right to close the book at any earlier time. Settlement is expected to be on 24 February 2009. 

Enquiries: 

Patrick Dunne	3i Group plc	[phone]
Angus Gordon Lennox	JPMorgan Cazenove Limited	[phone]
Alex Carter	Citigroup Global Markets U.K. Equity Limited	[phone]
Lydia Pretzlik	Maitland	[phone]

This announcement does not constitute any offer to sell or any solicitation of any offer to purchase any securities. Citi and JPMorgan Cazenove Limited, each of which is regulated by the Financial Services Authority, are acting for 3i Group plc in connection with the sale and for no one else and will not be responsible to anyone other than 3i Group plc for providing the protections offered to prospective customers of Citi and JPMorgan Cazenove Limited nor for providing advice in relation to the sale.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the United States and the District of Columbia) or distributed, directly or indirectly to any US person as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the 'Securities Act'). This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the Securities Act, and may not be offered or sold in the United States or to or for the account of any US person, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

Neither this document nor any copy of it may be distributed in Canada or in Japan or to any resident thereof or in any other jurisdiction where such distribution would be unlawful under the laws of such jurisdiction.

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