Private equity and venture capital firm 3i Infrastructure plc (3IN.L) Monday announced the sale of its 50 percent holding in Alpha Schools Holdings Limited to a fully owned subsidiary of HICL Infrastructure Company Limited which also happens to own the rest of the investment. 3i Infrastructure further said the gross proceeds of 21.2 million pounds it received from sale is at a premium to its most recent valuation of the investment at 19.4 million pounds, as of September 30, last year.
The company said it expects to redeploy the proceeds from the sale in the European infrastructure market.
Alpha Schools, a concession company under a PFI contract to build, operate and maintain 11 new schools in Scotland, was part of the initial portfolio seeded into 3i Infrastructure at its IPO in 2007.
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