3i announces sale of Etanco generating proceeds of c. €102m

3i announces sale of Etanco generating proceeds of c. €102m

3i Group plc (“3i”), and funds managed by 3i, today announce that they have entered into a sale and purchase agreement to sell their investment in Etanco, the leading designer, manufacturer and distributor of building fasteners and fixing systems in France, Italy and Eastern Europe, to its CEO Ronan Lebraut and management team supported by Intermediate Capital Group (“ICG”). Proceeds to 3i will be c. €102m, which represents a c. 36% uplift on its 31 March 2018 valuation of £66m / €75m.

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