3i Infrastructure parents company makes acquisition

published 16 December 2011

LNI Acquisition Oy, the parent company of investment infrastructure company 3i Infrastructure has signed an agreement to acquire 100% of the equity in Vattenfall Oy and Vattenfall Lmp Oy - known collectively as the target - from Vattenfall AB.

3i Infrastructure and 3i Group are investing through 3i Networks Finland, a partnership in which they have taken 87% and 13% stakes respectively.

The transaction values the target at around €1.54bn. LNI will fund the acquisition through a combination of equity and debt, while 3i Infrastructure will contribute €236m in equity to the transaction, which is is expected to close in the first quarter of 2012.