By Carlo Martuscelli

3i Infrastructure PLC (3IN.LN) said Wednesday that it had agreed to sell its stake in Elenia to a consortium that includes Allianz Capital Partners on behalf of the Allianz Group.

The deal to sell 3i Infrastructure's stake in Elenia, a Finnish power company, was valued at 725 million pounds ($967.5 million).

The investment company said Elenia was valued at GBP498 million at Sept. 30.

3i Infrastructure said it was selling its holding in Elenia to Allianz Capital Partners, Macquarie Infrastructure and Real Assets, and Finland's state pension fund Valtion Elakerahasto.

3i Infrastructure bought its stake in Elenia in January 2012, together with GS Infrastructure Partners and Ilmarinen Mutual Pension Insurance Company.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

(END) Dow Jones Newswires

December 13, 2017 09:49 ET (14:49 GMT)

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