According to a report from Reuters, United Kingdom's 3i has acceded to work closely with big venture partners to acquire businesses together after putting aside its need to secure finances immediately.
3i is the owner of Mayborn, the Tommee Tippee infant bottle maker and Hobbs, a fashion retailer. The company has been trying to restart its declining business after the frustration of the shareholders on the frail outcome of its acquisition business including its low share price results that resulted to an abrupt change of leadership back in 2012.
Disclosing that 3i was able to save from its expenses, even beyond its targeted amount of savings, current Chief Executive Simon Borrows related that the company had agreed with both a key institution in United Kingdom and a big sovereign wealth fund.
Mr. Borrows told reporters, "They are in place and there may be more to add to that. Those people will be at the front of the queue in terms of co-investing with us."
He further added that, "They will have the right to say whether they want to be in a particular deal."
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