3i receives proceeds of £30m from sale of shares in Eltel
3i Group plc (“3i”) announces that 3i, and funds managed by 3i, have sold 7.7 million shares in Eltel AB (“Eltel”).
3i Group plc (“3i”) announces that 3i, and funds managed by 3i, have sold 7.7 million shares in Eltel AB (“Eltel”), a leading European provider of technical services to the Infranet industry, at an average price of SEK80.50 per share.
As part of this transaction, 3i and funds managed by 3i reduced their stake from 20.0% to 7.6% for proceeds of approximately £52 million. Following the offering, 3i and funds’ remaining stake is worth approximately £33 million.
Proceeds to 3i were approximately £30 million and, at the offering price, 3i’s remaining c.4.3% stake is valued at approximately £18 million.
Eltel listed on the Stockholm Stock Exchange at SEK68 per share in February 2015.
For further information, contact:
Kathryn van der Kroft
Tel: +44 20 7975 3021
Notes to editors:
About 3i Group
3i is a leading international investment manager focused on mid-market Private Equity, Infrastructure and Debt Management. Our core investment markets are northern Europe and North America. For further information, please visit www.3i.com.
This transaction involved a recommendation of 3i Investments plc, advised by 3i Sweden.