Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

SNCF mulls buyout of UK government's Eurostar stake - report

Published 18/12/2014, 06:56
© Reuters. A Eurostar employee poses with their new Siemens e320 train at St Pancras station in central London
CAGR
-
III
-

PARIS (Reuters) - French rail operator SNCF is considering using its pre-emption purchase rights on the Eurostar train service to block certain bidders for the stake put up for sale by its partner, the British government, according to Les Echos newspaper.

The paper said the British government was about to name a shortlist of bidders for its 40 percent holding in the service that runs from Paris and Brussels to London through the Channel Tunnel.

The stake went up for sale in October and sources have said it could raise 300 million pounds for UK state coffers.

Les Echos said one bidder was a consortium put together by investment fund 3i (L:III) and Predica, a division of the bank Credit Agricole (PA:CAGR). A second has been assembled by the Singapore sovereign fund, GIC, it said. A Chinese bidder and a Netherlands rail business were also on the shortlist, the newspaper said.

In October a person familiar with the process told Reuters that the state-owned SNCF, with 55 percent of Eurostar, and the Belgian government, which holds the remaining 5 percent, had decided not to bid. They have a last-look right which would enable them to offer a 15 percent premium on the final bid.

© Reuters. A Eurostar employee poses with their new Siemens e320 train at St Pancras station in central London

SNCF was not immediately reachable for comment.

(Reporting by Andrew Callus and Gilles Guillaume; Editing by Leigh Thomas)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.