December 04, 2013

British government mulls Eurostar sell-off

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British government mulls Eurostar sell-off SNCF

THE British government has revealed proposals to sell its stake in Eurostar International Limited (EIL), the parent company of Euostar, and London & Continental Railways (LCR) as part of the Treasury's National Infrastructure Plan, which was published on December 4.

The government says it has identified corporate and financial assets with a total value of £20bn, which it intends to sell between 2014 and 2020 to fund infrastructure projects. These could potentially include LCR's property assets and the government's 40% shareholding in EIL, although the government stresses that any sale would be "subject to value for money assessments and key policy objectives."

At present French National Railways (SNCF) holds a 55% share in EIL while Belgian National Railways (SNCB) owns the remaining 5%. EIL was created as a single corporate entity in October 2010 to supersede the joint operation between Eurostar UK, SNCF, and SNCB.

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