Canadian Pension Fund Buys 30% Into UK’s Eurostar High-Speed Rail Network

Canadian pension fund manager, Caisse de dépôt et placement du Québec has bought 30 percent controllership stake into Eurostar International -- the high-speed rail network that links London and Paris, as well as London and Brussels.

The U.K. government has 40 percent holding in the rail company. Apart from Caisse, British asset manager Hermes Infrastructure will acquire the remaining 10 percent through a consortium called Patina Rail LLC. Caisse’s purchase translates to some £440 million ($850-million).

The British government wanted to divest its shares in the Eurostar International to raise enough case that could help reduce national debt. It was hoped the sell-off could raise at least £300 million. The total transaction value of the Caisse and Hermes purchase is believed to reach £757 million, according to theGlobe and Mail.

Read the rest of the story - http://au.ibtimes.com/canadian-pension-fund-buys-30-uks-eurostar-high-speed-rail-network-1427180