UPDATE 1-3i Infrastructure sells $250 mln in British assets, eyes European sale

* Sale of operational projects followed strategic review

* Buyers include Dalmore, Semperian and Innisfree

* Shares rise on the news; now up 0.5% (Adds detail from company statement, background, share price reaction, bullet points)

By Carolyn Cohn and Shanima A

Dec 6 (Reuters) - Investment firm 3i Infrastructure said on Friday it would sell its projects portfolio in Britain to a range of buyers, including funds managed by Dalmore, Semperian and Innisfree for about 194 million pounds ($248.90 million).

The sale follows a strategic review and the company is also exploring the potential sale of European projects, it said.

"Our review of the role of operational projects in our portfolio concluded that it was in the best interests of shareholders to sell these assets," Chairman Richard Laing said in a statement.

Operational projects make up 11% of the fund's 2.2 billion pound portfolio, according to a September factsheet, and consist of concession-based project finance initiative (PFI) projects.

A 3i Infrastructure spokeswoman said the sale was not related to Brexit or political uncertainty. Britain faces a general election next week.

The company initiated the review of the projects portfolio this year, she said, without giving more detail.

The British assets to be sold include investments in the Mersey Gateway Bridge and infrastructure fund Dalmore Capital.

Shares in 3i Infrastructure, wholly owned by blue-chip private equity firm 3i, were up 0.5% at 290.6 pence at 1138 GMT, in line with the FTSE mid-cap index. ($1 = 0.7794 pounds) (Additional reporting by Simon Jessop in London, editing by Louise Heavens)