3i Group plc : 3i Group sells LNI stake for 36 million
07/05/2012| 02:47am US/Eastern
3i Group, an international investor, announces that it has
completed the sale of its 5.7% stake in Lakeside Network
Investments ("LNI") to Teachers Insurance and Annuity
Association of America ("TIAA") for approximately €36
3i Group continues to provide investment management services
in relation to the interest through its wholly-owned
subsidiary 3i Investments plc.
Although 3i Group plc has now sold its interest, 3i
Infrastructure plc retains its entire stake in LNI.
Notes to editors
3i is an international investor focused on private equity,
infrastructure and debt management, with operations in
Europe, Asia and the Americas. As at 31 March 2012, 3i had
total assets under management of £10.5 billion, including
£6.3 billion advised or managed on behalf of third parties.
TIAA is a leading financial services organization with $487
billion in assets under management as at 31 March 2012. The
firm is a leader in helping those in the academic, medical,
cultural, governmental and research fields plan for
retirement, and life's other goals. Over 3.7 million
individuals trust us to help support their financial
For further information please contact:
LNI's business comprises electricity distribution and
district heating in Finland. A consortium comprising 3i
Infrastructure plc, 3i Group plc, GS Infrastructure
Partners and Ilmarinen Mutual Pension Insurance Company
invested in LNI in January 2012.
Kathryn van der Kroft, 3i Press Office,
tel. +44 207 975 3021