Key Developments: 3i Group PLC (III.L)
357.00GBp
20 May 2013
2.00p (+0.56%)
355.00p
356.00p
361.00p
355.60p
2,085,804
2,165,831
364.90p
168.20p
Latest Key Developments (Source: Significant Developments)
3i Group PLC In Talks To Sell Pharma Firm Xellia-Reuters
Reuters reported that 3i Group PLC is in discussions to sell pharmaceutical company Xellia which could fetch around EUR750 million ($974.66 million). Linklaters is acting as legal adviser to 3i. A 3i spokesperson was not available for comment. Linklaters did not immediately return a request for comment. Full Article
3i Group PLC Announces B Share Dividend
3i Group PLC announced that the dividend on its cumulative preference shares of one penny each (B Shares) in respect of the period July 15, 2012 to July 14, 2013 inclusive shall be 4.7625p per B Share (such dividend being calculated in accordance with the Company's Articles of Association). Relevant dividend dates are as follows: Record date is June 28, 2013, Payment date is July 15, 2013. Full Article
Ferrovial SA To Acquire 3i Group PLC's Enterprise-Reuters
Reuters reported that Ferrovial SA has reached an agreement with 3i Group PLC to fully acquire from the latter the British services company Enterprise for GBP 385 million pounds (USD 590 million). The acquisition is expected to be completed by April 2013 once it has been given the go ahead by competition authorities. Full Article
3i Group PLC Sells NORMA Group AG's Stake-Reuters
Reuters reported that 3i Group PLC has sold all of its remaining 16.7% stake in German engineering group NORMA Group AG for about EUR109 million ($142.2 million). Full Article
3i Group plc Announces Interim Dividend
3i Group plc announced that the Board has declared an interim dividend of 2.7p (2011: 2.7p). The interim dividend is expected to be paid on January 9, 2013 to holders of ordinary shares on the register on December 14, 2012. The ex-dividend date will be December 12, 2012. Full Article
3i Group plc Takes Debt Management Business To United States-Reuters
Reuters reported that 3i Group plc has announced a joint venture with U.S. fund manager WCAS Fraser Sullivan Investment Management to build a global debt management business. 3i will take an 80% stake in the new venture, 3iDM US, and Fraser Sullivan's senior executives will hold the remaining 20%, with 3i expected to take full control of the business after three years. Full Article
3i Group plc Cuts Jobs And Offices In Bid To Improve-Reuters
Reuters reported that 3i Group plc is cutting jobs and closing offices in a move it hopes will help turn around its ailing performance and repair its tarnished reputation. The plans will see 3i cut over 160 jobs, equating to more than a third of its staff, as it seeks to reduce annual operating costs by over GBP40 million ($62 million). Full Article
3i Group plc CEO Plans To Cut Jobs, Reduce Offices-DJ
Dow Jones reported that according to the Sunday Times, 3i Group plc will cut staff and reduce its overseas office network, as part of the new chief executive's plan to rehabilitate the company. The newspaper said Borrows is expected to shut several offices overseas, with analysts suggesting those under threat include several in Asia and North America, as well as parts of Europe. Full Article
3i Group plc To Buy A Clutch Of Debt Funds From Invesco Ltd-Reuters
Reuters reported that 3i Group plc has agreed to buy a clutch of debt funds from Invesco, as the group steps up efforts to diversify away from traditional private equity deals under new Chief Executive Simon Borrows. 3i said it had signed agreements to buy seven European collateralized loan obligation management contracts from Invesco, adding some EUR2 billion in assets to its debt management arm established 18 months ago. Full Article
3i Group plc Appoints New Chief Executive Officer
3i Group plc announced that it has appointed Simon Borrows to succeed Michael Queen as Chief Executive Officer with effect from May 17, 2012. Full Article
UPDATE 2-UK's 3i seeks investment partners in recovery plan
LONDON, May 16 - British buy-out firm 3i has agreed to work closely with major investment partners to buy into companies together, sidestepping the need to raise new funding in the short term.
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