March 3, 2017 / 9:16 AM / 5 months ago

BRIEF-3i Group, LDC sell stakes in MKM Building Supplies to Bain Capital

March 3 (Reuters) - 3i Group Plc:

* 3i and LDC sell stakes in MKM Building Supplies to Bain Capital

* Management will retain a significant shareholding in the business

* Proceeds to 3i from today's transaction will be c.70 mln stg, and including 11 mln stg received by 3i since 2006, represent a 5.9x money multiple

* 3i's proceeds represent a 17 pct uplift over book value at Dec. 31, 2016 and 31 pct as at March 31, 2016

* Rothschild acted as lead adviser to the selling shareholders and Addleshaw Goddard, as legal adviser

* The transaction is subject to customary regulatory approvals

* Subject to these approvals, the deal is expected to complete by May 2017 Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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