LONDON Jan 31 British private equity group 3i
said on Thursday it had made strong progress in its
efforts to restructure the business and was on track to cut debt
below 1 billion pounds ($1.58 billion) by June.
The owner of women's fashion retailer Hobbs and Tommee
Tippee baby bottle maker Mayborn said net asset values grew 4.8
percent to 286 pence a share in the three months to the end of
Its debt at Dec. 31 stood at 1.2 billion pounds.
Chief Executive Simon Borrows, who took over last year
following shareholder frustration at poor share price
performance and weak results from its buyout business, also said
the company expected to exceed its cost-cutting targets for the