News Column

3i selling spree gathers pace

May 30, 2014

MICHAEL BOW



PRIVATE equity outfit 3i yesterday continued its bout of selling portfolio companies by offloading German motor engine part maker Hilite International.


The deal, which is worth £384m, follows a series of disposals last year by the group, which made the company £669m.


Hilite has been sold to a subsidiary of Aviation Industry Corporation of China. The deal gives 3i cash proceeds of £155m.


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Source: City A.M. (UK)


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