Everything about 3i totally explained
3i Group PLC is a leading
venture capital and
private equity firm quoted on the
London Stock Exchange, and part of the
FTSE 100 Index.
It was formed by a syndicate of British banks in
1945 to invest in industry. 3i Group was created in
1987 when the banks sold off their stakes to form a public limited company. 3i stands for
investors in industry.
Today 3i Group is one of the largest publicly traded capital groups in the world, operating worldwide with €1.5bn of new investments made per annum.
As of Q3 2005 3i announced it wouldn't be switching to
IFRS, as it had agreed with its auditors (
Ernst & Young) that it didn't need to, based on its structure.
Acquisitions
In July 2005 3i agreed to buy
NCP from
Cinven. 3i has said it'll continue to grow the business service-oriented and public-oursourcing company.
On June 19 2007,
Deutsche Bahn AG and the
Danish transport ministry announced the sale of
Scandlines for 1,560 million Euros to a consortium consisting of 3i,
Allianz Capital Partners and Deutsche Seereederei (DSR) Rostock. DSR will hold 20%, 3i and Allianz both 40%. The sale has still to be agreed upon by the Finance committee of the Danish parliament, the supervisory board of Deutsche Bahn AG, the German transport ministry, and the EU competition authority.
Key people
Baroness Hogg has been Chairman since 2002 and a non-executive Director since 1997. Currently also Chairman of Frontier Economics Limited. Deputy Chairman of GKN plc and a director of BG Group plc, and Carnival Corporation and plc. A Governor of the London Business School and a member of the Financial Reporting Council. From 1995 to 2002 Chairman of Foreign & Colonial Smaller Companies PLC. Formerly Head of the Prime Minister’s Policy Unit.
Philip Yea is Chief Executive and executive Director since joining the Company in July 2004. Currently also a non-executive director of Vodafone Group Plc. Formerly Managing Director within the private equity business of Investcorp. A former Finance Director of Diageo plc and former non-executive director of HBOS plc and Manchester United PLC.
The company currently employs about 750 people.
Further Information
Get more info on '3i'.
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