3i to buy Mizuho Corporate Bank fo £18.3 million
Private equity group 3i said that it would be buying Mizuho Investment Management (MIM) from Mizuho Corporate Bank in a deal worth around £18.3 million.
MIM focuses mainly on Europe and has assets under management of £3.7 billion.
In a conference call Michael Queen, CEO of 3i, said, "We've now got three platforms for growth - private equity, infrastructure management and debt management."
By 11:40 shares in 3i were flat on the FTSE 100 at 288.00 pence per share.
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