Government sells Eurostar
The Government is to sell its 40% stake in Eurostar to an Anglo-Canadian consortium for £757.1 million.
Under the deal, 30% of the cross-Channel rail operator will be bought by Canadian-based Caisse de Depot et Placement du Quebec and 10% will go to UK firm Hermes Infrastructure. The remainder is owned by French and Belgian national railways.
The Government had already signaled its intention to offload its stake in its Autumn Statement and National Infrastructure Plan in 2013.
Chancellor George Osborne said the stake had sold for more than expected. "This is a very good deal – it means we can cut the national debt, it means we can invest in our national infrastructure and it’s fantastic value for British taxpayers. It’s all part of our long-term plan to secure Britain’s future," he said.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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