Freshfields Reps 3i Group In $24.5M MIM Buy

Law360, New York (September 27, 2010, 4:17 PM EDT) -- Private equity firm 3i Group PLC has agreed to buy debt-management company Mizuho Investment Management (UK) Ltd. for £18.3 million ($24.5 million), seeking a boost in the European loans sector.

3i Group's existing debt-management activities will merge with MIM's to form a new business line called 3i Debt Management with assets under management of nearly £4 billion, the equity firm said Monday.

The deal still needs approval from the investors of Mizuho Corporate Bank Ltd., MIM's corporate parent and one of Japan's largest banks, as well...
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