3i reports a growth in activity in France of 33%

In the year to 31st March 2001 3i invested 5.4m in France spread over 50 investments. The amount invested translates to a 33% rate of growth in 3i's French activity compared with the previous year’s results. Buyout transactions and leveraged build-up deals represented Euro 98.6m worth of investment for 3i, and included 12 new investments. Some of the deals completed were Bongard Industries, ECM, Oldham Gas and Carré Blanc. The average value of buyout transactions completed also rose.

Meanwhile, 3i invested Euro 14.8m in development capital deals, while its early-stage activity grew by 83%. In total, 26 early-stage investments were completed, of which 16 were follow-on investments. As of 31 March 2001 3i's technology portfolio was made up of 32 companies, mostly operating in the areas of biotechnology and information technology. In the year to come, 3i intends further to enlarge its buyout operation and complete deals at the larger end of the market. However, in the area of technology, the group will be highly selective in the investments it makes, concentrating on technology infrastructure. It will also look to consolidate its current portfolio.

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• GPs
• France