3i Infrastructure Sells TCR Stake for 1.32 Billion Dollars
3i Infrastructure will sell its 71% stake in TCR for 1.14 billion euros. This price is 22% higher than the valuation recorded as of September 30 last year.
Investment firm 3i Infrastructure has reached an agreement to divest its 71% stake in airport equipment specialist TCR for 1.14 billion euros ($1.32 billion). The transaction value represents a 22% premium over the firm's valuation as of September 30. TCR is based in Belgium and stands as the world's largest independent lessor of airport ground support equipment, with a presence at more than 230 airports globally. 3i Infrastructure, which initially invested in the company in 2016, was originally spun off from 3i Group plc and listed in London in 2007. The firm intends to use the capital from the sale to pay down its revolving credit facility and support upcoming investment initiatives.
