3I Group News

The second of Scandlines’ two new hybrid ferries for the Rostock-Gedser route was named M/V Copenhagen during a ceremony at the Danish shipyard FAYARD A/S on October 28, 2016. In his speech to the some 180 guests in attendance, Thomas Andersen, CEO of FAYARD A/S, thanked Scandlines for the confidence which the shipping company has shown the yard and he compared the new ferry with Hans Christian Andersen’s ugly duckling that finally turned into a beautiful swan. The new ferry M/V Copenhagen…

Rolls-Royce announced that Stephen Daintith has been appointed Chief Financial Officer and as an executive director of Rolls-Royce Holdings plc. Stephen will take up his new role in 2017, succeeding David Smith who will leave Rolls-Royce after three years to pursue other business interests. Stephen Daintith is currently Chief Financial Officer of Daily Mail & General Trust plc. Previously he was employed by News International as Chief Financial Officer and Chief Operations Officer of Dow Jones & Co. His earlier career was spent working internationally in a number of senior positions at British American Tobacco, also at Forte, the Civil Aviation Authority and PriceWaterhouse Coopers.

Global engineering, technical and business services organisation, Lloyd’s Register (LR), has announced the appointment of Mary Waldner as Group CFO. Mary is currently Group Finance Director at FTSE 250 listed defence, security, transport and energy company Ultra Electronics and replaces Alastair Marsh’s as LR’s Group CFO following his appointment as CEO of the Lloyd’s Register group in October 2015. Mary has a broad range of experience in a variety of sectors and an excellent track record of delivery throughout a number of senior financial roles with major public limited companies. After graduating from Oxford University with an MA in Physics, Mary started her career at Coopers & Lybrand Management Consultancy Services, before working for Vauxhall Motors Ltd.

According to Dow Jones Dockwise Ltd. will launch an initial public offering on the Oslo Stock Exchange by Oct. 12. The IPO will give Dockwise shareholders 3i Group (III.LN) and Frontline Ltd. ( FRO.LN) the opportunity to sell part of their combined 47% stake in the company, the chief executive said. The company's management owns a 6% stake in Dockwise, and the remaining 47% of the company is traded in the Norwegian over-the-counter market. The company wants to have a formal listing to increase liquidity and exposure. The reason it chooses Oslo is that there are a lot of analysts and investors in the country with knowledge and interest in the offshore industry, Goedee said.

Engineering firm Emerson Electric Co. has acquired marine valve supplier Damcos Holding AS, the AP reported Financial terms of the deal were not disclosed. Damcos Holding supplies valve remote controls and tank monitoring equipment to the marine and shipbuilding industries. Damcos will become part of Emerson's process management business, which helps companies automate their production and processing systems. Emerson bought the company from British investor 3i Group PLC, Danish valve manufacturer Danfoss AS and the Damcos management team. Source: AP