Private-equity mogul Guy Hands is set to start selling down his stake in wind-power company Infinis just over a year since its flop flotation.
The tax exile’s buyout firm, Terra Firma, said it is considering offloading either some, or all, of the 68.6% holding. Infinis was listed on the London Stock Exchange at 260p in November 2013, but was today trading down 4% to 210p.
Infinis chairman Ian Marchant said: “Since our IPO, Infinis has made good progress on its organic growth plans and has delivered on its commitments to investors, providing a combination of stable dividend income and earnings growth. We believe it continues to offer a compelling investment story.”
The poor performance of the green energy group over the past year has been far from ideal for Hands, who is attempting to rebuild his reputation following his disastrous £4.2 billion takeover of EMI in 2007. The debt-laden music group was eventually seized by Citigroup in 2011, although court proceedings remain ongoing.