Private equity firm 3i has agreed to buy out the remaining 50% held in Danish offshore vessel operator Esvagt held by co-owner AMP Capital.

The London-based firm has agreed to pay £268m ($355m) for the stake. Completion of the deal is expected to take place in the first quarter of 2022.

3i Infrastructure had previously disclosed that a strategic review of its holding in Esvagt was in progress and that as part of that review, offers had been invited.