UK agrees to sell Eurostar stake
Print Edition
THE British government has agreed to sell its stake in Eurostar, the high-speed rail service that connects London with Paris and Brussels through a tunnel under the English Channel, for 757 million pounds (US$1.1 billion), a move that’s prompted accusations that it is selling the family silver.
The Treasury said yesterday that a group of international investors, Canada’s Caisse de depot et placement du Quebec and UK-based Hermes Infrastructure, agreed to buy the government’s 40 percent stake for 585.1 million pounds.
Eurostar, which began services in 1994 and has carried 150 million passengers, also agreed to redeem the government’s preference share for an extra 172 million pounds.
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