3i to sell healthcare firm stake for 850 mn euros

HELSINKI: Private equity group 3i said on Tuesday it would sell its majority stake in Nordic healthcare company Ambea to private equity investment firm Triton for around 850 million euros ($1.16 billion).

"Private equity group 3i and the funds it manages will sell its majority stake in Ambea group to Triton," 3i said in a statement.

3i holds 75 percent of shares in Ambea, while the Government of Singapore Investment Corporation (GIC) holds 15.9 percent, according to Ambea's website.

In a separate statement Ambea said GIC had also agreed to sell its stake to Triton.

Ambea, which bills itself as market leader in the Nordic region in healthcare services, has 9,500 employees in Finland, Sweden and Norway, and operates under Mehilainen and Carema brands.

The transaction is expected to be finalised by end-March and requires approval from competition authorities, 3i said.