Financial statements
Ten largest investments
The table below provides information on our ten largest investments, as required by LR 15.4.12, in respect of the Group's holding and excluding any co-investment by 3i managed funds, or share of 3i Infrastructure Limited owned by third parties. Income represents dividends received (inclusive of overseas withholding tax) and gross interest receivable in the year to 31 March 2007. Net assets and earnings figures are taken from the most recent audited accounts of the investee business, and are the net assets of each business and the total earnings on ordinary activities after tax respectively. It should be noted that, because of the varying rights attaching to the classes of shares held by the Group, it could be misleading to attribute a certain proportion of the earnings and net assets to the proportion of equity capital held by the Group.
Further information on our portfolio investments is provided under Forty other large investments and in the Case studies section and more generally at 3i.com.
| Investment | Business line |
Geography | First invested in |
Residual cost £m |
Proportion of equity shares held |
Directors’ valuation £m |
Income in the year £m |
Net assets £m |
Earnings £m |
|---|---|---|---|---|---|---|---|---|---|
| 3i Infrastructure Limited1 | Infrastructure | UK | 2007 | ||||||
| Quoted investment company, investing in infrastructure | |||||||||
| Equity shares | 325 | 46.4% | 334 | – | |||||
| 325 | 334 | – | |||||||
| Osprey Jersey Holdco Limited (AWG)2,3 | Infrastructure | UK | 2006 | ||||||
| Provider of drinking water and waste water services | |||||||||
| Equity shares | 78 | 7.1% | 78 | – | |||||
| Loans | 33 | 33 | 4 | ||||||
| 111 | 111 | 4 | 130 | 30 | |||||
| ACR Capital Holdings Pte Limited4 | Growth | Singapore | 2006 | ||||||
| Reinsurance in large risk segments | |||||||||
| Equity shares | 105 | 31.6% | 102 | – | |||||
| 105 | 102 | – | |||||||
| Sistemas Técnicos de Encofrados S.A. (STEN) | Growth | Spain | 2006 | ||||||
| Sale and rental of formwork and scaffolding equipment | |||||||||
| Equity shares | 78 | 28.8% | 78 | – | |||||
| 78 | 78 | – | 47 | 16 | |||||
| Laholm Intressenter AB (DIAB) | Growth | Sweden | 2001 | ||||||
| Polymer based sandwich construction laminates | |||||||||
| Equity shares | 44 | 48.1% | 77 | – | |||||
| 44 | 77 | – | 30 | 12 | |||||
| FM-Holding AB (Coor Service Management) | Buyouts | Sweden | 2004 | ||||||
| Facilities management services | |||||||||
| Equity shares | 1 | 37.5% | 45 | – | |||||
| Loans | 29 | 27 | 2 | ||||||
| 30 | 72 | 2 | 2 | 2 | |||||
| H-Careholding AB | Buyouts | Sweden | 2005 | ||||||
| Elderly, primary and specialist care | |||||||||
| Equity shares | 11 | 41.7% | 15 | ||||||
| Loans | 57 | 56 | 4 | ||||||
| 68 | 71 | 4 | 26 | (2) | |||||
| Hayley Conference Centres Limited | Growth | UK | 2005 | ||||||
| Provider of conference and training facilities | |||||||||
| Equity shares | 1 | 45.8% | 66 | 2 | |||||
| 1 | 66 | 2 | 72 | 5 | |||||
| Dockwise Transport N.V. | Buyouts | Netherlands | 2007 | ||||||
| Specialists in heavy transport shipping within the marine and oil & gas industry | |||||||||
| Equity shares | 1 | 49.1% | 1 | ||||||
| Loans | 64 | 64 | 2 | ||||||
| 65 | 65 | 2 | 107 | 31 | |||||
| Giochi Preziosi S.r.l | Buyouts | Italy | 2005 | ||||||
| Retailer and wholesaler of toys | |||||||||
| Equity shares | 63 | 37.8% | 63 | – | |||||
| 63 | 63 | – | 134 | (14) | |||||
Notes
|
|||||||||