FRANKFURT, Sept 12 Private equity investor 3i
has offered to buy the shares in Scandlines
it does not already own, after an attempt to find a buyer for
the ferry group failed earlier this summer, it said in a
statement on Thursday.
3i's bid for the 50 percent stake held by co-owner Allianz
Capital Partners (ACP) values Scandlines at more than
the 1.3 billion euros ($1.7 billion) that buyout group TPG
offered for the whole company, a source familiar with
the transaction said.
Separately, 3i and ACP said that they were jointly working
on a refinancing of the existing debt facilities, confirming
what several people familiar with the process had told Reuters
earlier this week.
Sources had said the private equity owners are set to strike
a deal with banks in coming weeks to refinance around 1 billion
euros ($1.3 billion) in loans.
Private equity firms 3i and Allianz Capital Partners (ACP)
bought Scandlines for 1.5 billion euros at the peak of the
buyout boom in 2007, backed with 1.28 billion euros of debt,
according to Thomson Reuters LPC data.
Another minority investor in the deal was bought out in