MIIF sells Europe-fund stake for $132m

MACQUARIE International Infrastructure Fund Limited (MIIF) has agreed to sell 71.6 per cent of its interest or a 4.5 per cent stake in Macquarie European Infrastructure Fund (MEIF) to a number of investors for $132 million.

MIIF said yesterday that it would use the proceeds to repay $19 million in debt and retain the rest ‘to provide balance sheet flexibility for the fund’. MIIF said that it acquired the interest in MEIF in June 2005 for $139.5 million and has received proportionate distributions of $35.3 million from the investment. — Reuters

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