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3i to sell 17% of ESVAGT

London-listed infrastructure investment company 3i Infrastructure has agreed to to sell its 16.9% stake in offshore emergency-vessels provider ESVAGT to 3i Aura, a newly-established vehicle managed by 3i Investments and funded by three unnamed investors for €105.5 million, according to a report by Investment & Pension Europe.

3i Infrastructure’s stake in ESVAGT will reduce to 83.1% in completion of the deal, with proceeds set to be used to repay part of the company’s outstanding revolving credit facility balance.

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