3i
From Wikipedia, the free encyclopedia
| 3i plc | |
|---|---|
 |
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| Type | Public company |
| Founded | 1945 (created by a syndicate of British banks) |
| Headquarters |  London, England, United Kingdom |
| Key people | Baroness Hogg, Chairman Philip Yea, CEO |
| Industry | Speciality Finance |
| Revenue | £1,053m (2006) |
| Operating income | ▲ £855m (2006) |
| Net income | ▲ £852m (2006) |
| Website | www.3i.com |
3i Group PLC is a leading venture capital and private equity firm quoted on the London Stock Exchange (LSE: III), 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 would not be switching to IFRS, as it had agreed with its auditors (Ernst & Young) that it did not need to, based on its structure.
[edit] Acquisitions
In July 2005 3i agreed to buy NCP from Cinven. 3i has said it will 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.
[edit] 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.
