ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

3IN 3i Infrastructure Plc

325.00
0.00 (0.00%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
3i Infrastructure Plc LSE:3IN London Ordinary Share JE00BF5FX167 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 325.00 324.50 325.50 327.00 321.00 321.00 995,314 16:35:03
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Unit Inv Tr, Closed-end Mgmt 515M 394M 0.8517 3.82 1.51B

3i Infrastructure PLC Announcement of investment in Tampnet (0451W)

27/07/2018 1:51pm

UK Regulatory


3i Infrastructure (LSE:3IN)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more 3i Infrastructure Charts.

TIDM3IN

RNS Number : 0451W

3i Infrastructure PLC

27 July 2018

3i Infrastructure plc announces investment in Tampnet

27 July 2018

3i Infrastructure plc ("3i Infrastructure" or "the Company") today announces that it will invest approximately EUR220 million for the acquisition of a stake in Tampnet AS ("Tampnet"), the leading independent offshore telecoms network operator in the North Sea and the Gulf of Mexico. 3i Infrastructure is investing in a consortium with Danish pension fund ATP, with each party acquiring up to 50% of Tampnet. The Company's investment adviser, 3i Investments plc, will manage the investment on behalf of the consortium. The Tampnet management team will also invest to acquire a minority shareholding. Completion is subject to regulatory approvals in Europe and the USA.

Founded by Equinor (formerly known as Statoil) in 2001, Tampnet provides high speed, low latency and resilient data connectivity offshore through a comprehensive network of fibre optic cables, 4G base stations, and microwave links. It operates across four main business areas: fixed installations, mobile rigs and vessels, roaming for offshore workers and international carriers. The majority of its business involves providing fixed fibre links to oil platforms. Tampnet's fibre optic links provide oil producers with mission-critical reliable communications in an often hostile environment.

Tampnet generates c.85% of its business in the North Sea and c.15% in the Gulf of Mexico, and serves more than 50 customers including oil and gas operators, offshore service providers and telecom operators. Tampnet also has the opportunity to grow into new segments such as offshore wind, commercial vessels and the point-to-point carrier segment.

Richard Laing, Chairman, 3i Infrastructure plc, commented:

"Tampnet is the Company's first investment in fibre telecoms infrastructure and provides further geographical diversity through its operations in the Gulf of Mexico. The investment offers a good yield profile as well as strong near-term growth prospects. It is an attractive addition to the portfolio."

Phil White, Managing Partner and Head of Infrastructure, 3i Investments plc, Investment Adviser to the Company, added:

"As operators adopt more advanced technologies and utilise IT applications more intensively to improve efficiency and extend hydrocarbon field lives, the low latency, high bandwidth of fibre becomes even more essential. We look forward to working with Tampnet's experienced and high quality management team to support the future growth of this business."

-Ends-

For further information, contact:

 
                    Chairman, 3i Infrastructure 
 Richard Laing       plc                           +44 1534 847 410 
 Thomas Fodor       Investor enquiries             +44 20 7975 3469 
                   =============================  ================= 
 Kathryn van der 
  Kroft             Media enquiries                +44 20 7975 3021 
                   =============================  ================= 
 

Notes to editors:

About 3i Infrastructure plc

3i Infrastructure plc is a Jersey-incorporated, closed-ended investment company, listed on the London Stock Exchange and regulated by the Jersey Financial Services Commission. The Company is a long-term investor in infrastructure businesses and assets. The Company's 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 acts as Investment Adviser to 3i Infrastructure plc.

About ATP

ATP is Denmark's largest pension and social security provider and one of Europe's largest pension providers, with more than EUR100 billion assets under management invested in bonds, equities, real estate and infrastructure assets, among others. In recent years, ATP has made significant investments in vital infrastructure such as the Copenhagen Airport, the renewable energy company DONG Energy, now Orsted as well as the telecommunication company TDC.

ATP also administers key welfare benefits and schemes on behalf of the Danish state, the local authorities in Denmark and the social partners. ATP is the largest administration provider in the Nordic countries, managing two thirds of welfare benefits disbursed in Denmark.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCLLFEFDIIDFIT

(END) Dow Jones Newswires

July 27, 2018 08:51 ET (12:51 GMT)

1 Year 3i Infrastructure Chart

1 Year 3i Infrastructure Chart

1 Month 3i Infrastructure Chart

1 Month 3i Infrastructure Chart

Your Recent History

Delayed Upgrade Clock

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

Support: +44 (0) 203 8794 460 | support@advfn.com