AMP Capital, 3i Infrastructure to Buy Denmark's Esvagt

   By Robb M. Stewart 
 

MELBOURNE, Australia--Investment manager AMP Capital is teaming up with 3i Infrastructure PLC (3IN.LN) to buy Denmark's Esvagt, a provider of rescue services for Scandinavia's offshore oil-and-gas industry.

AMP Capital, a unit of Australian financial services company AMP Ltd. (AMP.AU), said Tuesday it will invest about GBP109 million (US$170 million) to buy a 50% interest in Esvagt from Maersk Group, while 3i will buy the remaining stake.

The deal bolsters AMP Capital's global infrastructure fund, adding a company with contracted revenue streams and a unique operating model that is positioned to be replicated in other markets, Boe Pahari, global head of infrastructure equity at the Australian firm, said.

Esvagt, which employs more than 800 people and owns a fleet of 43 vessels, is a leading provider of emergency-response services to the energy industry in Denmark and Norway, and is growing its presence in the U.K. offshore wind services sector.

AMP Capital's global infrastructure platform is currently raising funds from global investors and the company said it has secured commitments for more than $1 billion, with a targeted final close of $2 billion.

Write to Robb M. Stewart at [e-mail]

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