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British Government to Sell Eurostar Stake for $1.16 Billion


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#1 CNJRoss

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Posted 04 March 2015 - 10:37 AM

The New York Times, 3/4:
 

British Government to Sell Eurostar Stake for $1.16 Billion

 

LONDON — The British government said on Wednesday that it had agreed to sell its 40 percent stake in Eurostar International, which operates high-speed trains connecting London with Paris and Brussels through a tunnel under the English Channel, for about 757 million pounds, or $1.16 billion.

 

A consortium that includes Caisse de Dépôt et Placement du Québec, which manages public pension funds in Quebec, and Hermes Infrastructure, a unit of the British fund manager Hermes Investment Management, will pay £585.1 million for the British government’s stake. Eurostar will also redeem preference shares held by the government for £172 million after the sale closes, which is expected in the second quarter of this year.

 

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