3i Infrastructure Share Discussion Threads

[cyfran101] 05/4/2013 00:00

Not a lot of action on this BB but I was trying to find out what happened to T2C and specifically what the delays are involved in this.

Only a brief mention on the half year report:

"T2C
Thermal Conversion Compound ("T2C") is a special purpose company established to build, operate and maintain a waste-to-energy plant on an industrial park near Frankfurt, Germany. A provision was taken against the value of T2C in March 2010, due principally to significant delays in the completion of construction. The asset remains valued at nil, as no return on the Company's equity investment is foreseen. "

Looking further back it mentions difficulties in getting the refuse fuels but can anyone give a brief explanation why no return is foreseen? I didn't stop me investing as its a small investment by 3i but just got curious. Thanks in advance

[cyfran101] 09/11/2012 23:57

Questors take on the stock:

[jonwig] 09/5/2012 12:46

FY Results.

Overall progress looks good - portfolio is high quality.
But the performance of the India fund is awful - 30% down on the year.
At least it's only 11% of the total assets.

Of the three I hold (HICL, JLIF, 3IN) this now has the smallest premium to NAV - it used to have the highest.

[jarbie] 16/4/2012 22:56

jonwig - thank you for responding
I was trying to reignite the discussion
and I agree with you but some gain
over the past 2 years would be welcome

[jonwig] 15/4/2012 20:10

jarbie - Questor is positive on 3IN, HICL and JLIF - so am I.

But he does say these aren't a play on capital gains, but on income with an element of index-linking. Their current NAVs are based on a DCF valuation of future revenue streams (see the HICL presentations, especially), which are pretty accurately mapped out and are independent of stockmarket volatility (all are low beta stocks). Notice they all trade above these NAVs. "Dead ducks" these are not.

So, quite honestly, if you want to play capital gains, I'd suggest look elsewhere.

I imagine you're looking at new projects, where the risks are greater (cost over-runs, etc.) in which case Balfours, Carillion, Costain, etc. might be more your choice.

[jarbie] 15/4/2012 19:23

Questor seems to have got it wrong
hardly a mover in all this time
we should be flying by now
if we are well invested in infrastructure
we must be sitting on well chosen dead ducks
any views ? what does the future hold ?
hardly an income share either
no activity here - all gone to sleep ?

[rogsim] 18/12/2011 19:33

Questor says BUY....

[skinny] 16/12/2011 08:02

RNS Number : 1220U

3i Infrastructure PLC

16 December 2011

16 December 2011

Lakeside Network Investments consortium agrees to buy Vattenfall's electricity distribution and heat businesses in Finland

LNI Acquisition Oy ("LNI"), a consortium comprising 3i Infrastructure plc and 3i Group plc (45% share), GS Infrastructure Partners (45% share) and Ilmarinen Mutual Pension Insurance Company (10% share), has signed an agreement to acquire 100% of the equity in Vattenfall Oy ("Networks Finland") and Vattenfall Lampo Holding Oy ("Heat Finland", together the "Target") from Vattenfall AB. 3i Infrastructure plc and 3i Group plc are investing through 3i Networks Finland LP, a partnership in which they have taken 87% and 13% stakes respectively.

The transaction values the Target at approximately EUR1.54 billion. LNI will fund the acquisition through a combination of equity and debt and 3i Infrastructure plc will contribute EUR236 million in equity to the transaction.

Networks Finland is the second largest electricity distribution network in Finland. Headquartered in Tampere, it serves around 400,000 customers in South West Finland, and has a 12% market share.

Heat Finland operates a broad-based district heating and gas business in Finland.

The transaction is expected to close in the first quarter of 2012.

ENDS

[jonwig] 12/12/2011 20:07

Yes, I'd noticed these trends, but I wonder if infrastructure spending is one of the few ways governments can help mitigate these problems. After all, it's the UK gov's choice of action.

A falling rupee doesn't translate well, though.

EDIT: India assets £117.9m out of £715.8m. Fall of 16% in six months.

[muffinhead] 12/12/2011 19:56

Indian industrial production is crashing

[muffinhead] 12/12/2011 19:48

Rupee continues taking a bit of a battering


USD vs Indian Rupee

[jonwig] 17/3/2011 16:07

Do compare like with like.

The portfolios are different.
The risk profiles are different.
The balance sheets are quite different.
The expected dividend streams are different.

The names are - err - not so different. Is that your rationale?

[essentialinvestor] 17/3/2011 15:15

3i looks better value at under £3 a share imv,
the CEO bought heavily there yesterday.
IMore than a 10% discount to NAV on the main 3i fund.

[muffinhead] 15/2/2011 23:26

Hit squad sent in to cut PFI costs

[bikeaholic] 15/2/2011 09:30

Tipped by Quester..........Yes but read the whole story.

"The shares were first recommended on December 14 2010 and they are now 4pc below that level. There are few forecasts for dividends this year, but last year's full-year payment was 5.3p, giving an historical yield of 4.6pc, which is very attractive given current bank rates. Buy for the income."

[rogsim] 13/2/2011 08:14

Tipped by Questor:

[its the oxman] 08/2/2011 11:53

this will back above 125p - just a matter of time - unspectacular but steady climber.

[muffinhead] 31/1/2011 17:50

it will be back down in 3 weeks when all the Maily Wailes are satiated

China, India and other emerging markets have serious inflation issues at present and credit is being tightened...also Francis Maude wants his pound of flesh from PFI contracts....not sayin just being aware is healthy

[huttonr] 31/1/2011 09:00

3i Infrastructure owns assets such as Anglian Water, the Norfolk and Norwich University Hospital and a string of schools in the Highlands and a 20% stake in specialist fund 3i India Infrastructure.

The group's assets have also been rising in value and should continue to do so, particularly once the economic recovery materialises. These shares are unlikely to rocket, but for investors in search of generous income coupled with a measure of capital growth, this stock is a good bet. Buy says the Mail on Sunday.

[muffinhead] 25/1/2011 16:50

priced at NAV excluding dividend

[muffinhead] 25/1/2011 13:38

114 succour zone, loafing on 200sma

[jonwig] 25/1/2011 10:41

There are some press hints that UKGov will press PFI contractors to repay some of their 'excessive gains'. Such as:



This doesn't seem to have affected HICL or JLIF, which I hold.

[haroldthegreat] 25/1/2011 10:34

why 10% fall this month?