3i keeps an eye out for buyouts

VENTURE capital giant 3i will try to quell investor nerves this week by unveiling plans to cut its debt and begin hunting for buying opportunities.

The 65-year-old private equity house has had its fair share of problems, having recently written off stakes in companies such as British Seafood and Global Gardening Products.

It will argue at its full year results on Thursday that cash generated by selling its holdings in Ambea and ApaTech helped offset losses clocked up on more unfortunate investments.