Action owner 3i wants to keep chain after all

Investor 3i wants to keep a hold of Action after all. Even though the owner made it seem like it was looking for a buyer, 3i now denies it.

Investment term ends in 2019

British investment group 3i owns 80 % of Dutch discount chain Action, but 35 % of its investment is part of private fund Eurofund V, which operates with private investors’ funds and is managed by 3i Group.

By 2019, the term for the Action shares ends and it seems the private investors wanted to cash in: they seemed unwilling to extend the term, but all the more eager to get a financial return on the investment.

3i chairman Simon Borrows had indicated that the investors would look for new investors to acquire the 35 % stake, which would mean that stake would go up for sale.

3i wants to maintain position within Action

Not true, the company now said. The British investment group aims to maintain its position in Action and that means it will keep a hold of its stake, with or without Eurofund V. “3i wants to be the reference shareholder in Action, just like it has been since its acquisition in 2011”, spokesperson Kathryn van der Kroft told De Tijd.

It could be that there is a “restructuring of Eurofund V’s Action stake in 2019”, Van der Kroft said. A new fund may be created, or 3i could acquire the 35 % for itself, adding to the 45 % the listed investment group already has.