EISER closes on portfolio sale of assets to 3i

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EISER closes on portfolio sale of assets to 3i

EISER Finance Limited has reached financial close on a portfolio sale of assets to a fund managed by 3i Group plc (3i) from the EISER Global Infrastructure Fund (EGIF). 

 As part of the original sales agreement with 3i, EISER’s existing investors in EGIF were offered the opportunity to choose liquidity or to remain invested in the assets through a right to reinvest into the new fund managed by 3i.
The portfolio sale includes all of EGIF’s UK assets, Belfast City Airport and ESP Utilities; its remaining Italian assets HERAmbiente, the Italian waste treatment and disposal company; as well as certain of its Spanish assets, including EGIF’s four transportation concession companies that it co-owns with Sacyr – two operating shadow toll roads and two operating Madrid bus terminal interchanges. 
EISER maintains, within EGIF, its holding in three thermal solar power plants in Spain, ASTE/ ASTEXOL, which combined operate 150 MM of energy production. EISER recently was awarded a positive ruling by the International Centre for Settlement of Investment Disputes in regard to its claim against the Kingdom of Spain relative to its investment in ASTE/ASTEXOL. 
The portfolio sale follows EISER’s successful sale last year of Società Gasdotti Italia, an Italian company which owns and operates an integrated network of high pressure natural gas pipelines, to Macquarie Infrastructure and Swiss Life Asset Managers.

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