UK sell its stake in Eurostar Channel for 757 million GBP

Noam Stiekema

The UK sell its stake in Eurostar Channel for 757 million GBP. The Government announced that it would sell its 40% stake in the rail operator to Anglo-Canadian consortium for 757.1 million GBP. Under the deal Patina Rail will acquire the entire share of the government in the high-speed rail. The French and Belgian state […]

Eurostar Channel

Eurostar ChannelThe UK sell its stake in Eurostar Channel for 757 million GBP. The Government announced that it would sell its 40% stake in the rail operator to Anglo-Canadian consortium for 757.1 million GBP. Under the deal Patina Rail will acquire the entire share of the government in the high-speed rail. The French and Belgian state railways retain their shares.

The UK Finance Minister George Osborne said that the share has “brought a lot more than people expected that we can get to him”. “This is a very good deal – it means that we will reduce the national debt, it means we will invest in our national infrastructure and provides great value to the British taxpayer. It’s all part of our long term to ensure the future of the UK”, he added.

The consortium is composed of two companies: Canadian Caisse de Depot et Placement du Quebec (CDPQ) and the British Hermes Infrastructure. When the transaction is completed, they will hold 30% and 10% of Eurostar.

Eurostar began working in 1994 as a result of cooperation between three companies: the French state railway SNCF, Belgian SNCB state and British Rail. Since then, with the railroad have traveled more than 150 million passengers and more than 10 million passengers only in 2013. Their number is increasing every year over the last ten. In September 2010, the company became an independent, owned by three shareholders: SNCF, SNCB and LCR..

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