LONDON, UK: 3i Infrastructure plc has completed the sale of its 45% stakes in four European liquid storage terminals on 29 October after receiving certain third-party consents.
The sale, to Evos through its entity Evos Finance B.V., was announced on 23 September 2021. Evos is owned by funds managed by First Sentier Investors.
The four liquid storage terminals are Oiltanking Amsterdam B.V., Oiltanking Ghent N.V., Oiltanking Malta Limited and Oiltanking Terneuzen B.V., which collectively provide 3.8 million cubic metres of liquid storage capacity and associated services to a diverse range of customers.
After finalising debt repayment costs, the proceeds to the company will now be c.€55 million, which is higher than the previously announced estimate of €50 million.
3i Infrastructure will retain its 45% stake in Oiltanking Singapore Limited, alongside Oiltanking’s 55% stake.
3i Infrastructure plc is a Jersey-incorporated, closed-ended investment company, an approved UK Investment Trust, 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.