3i says not listing or selling interest in Action

Private equity firm 3i said it had no plans to dispose of its investment in Dutch discount retailer Action despite a number of approaches.

“3i is actively engaged in the further development of Action and is not intending to sell its investment or organise a flotation of Action in the near future,” the company said.

“Action continues to grow strongly and, based on trading to mid-June, is performing on a trajectory similar to its 2015 performance with a similar level of like-for-like sales growth. Action is currently also on track to open materially more new stores this year than it did last year.”

"In light of the third-party interest in Action and its continuing growth and financial trajectory, the board of 3i has decided to increase the book value of its investment in Action to £1.46m."