Dalmore Capital and Equitix Investment Management are buying 3i Infrastructure鈥檚 33.3% stake in Cross London Trains (XLT) in a 拢333m (鈧�379.3m) deal.
In June 2013, 3i invested 拢61.8m as an equal shareholder in XLT, alongside Innisfree PFI Secondary Fund 2 and Siemens Project Ventures Rail Investments I.
XTL was established to procure and lease the rolling stock for use on the Thameslink passenger rail franchise.
Investment firm 3i said it has agreed to sell its stake in XLT to a consortium of Dalmore and Equitix funds for 拢333m. 3i鈥檚 stake was valued at 拢271m as at 30 September 2018.
Richard Laing, the chairman of 3i Infrastructure, said: 鈥淴LT has proved a very good investment for the Company, generating significant value for our shareholders.
鈥淗aving supported the project through design, manufacturing and delivery, we believe that now is an appropriate time for the company to realise its stake.鈥�
Phil White, a managing partner and head of infrastructure at 3i Investments, the investment manager of the company, said: 鈥淴LT is another successful investment for 3i Infrastructure.
鈥淚n partnership with our co-shareholders, our involvement since the start of the procurement programme in 2008 has helped to deliver, on time and on budget, a key element of London鈥檚 commuter rail infrastructure.鈥�
