ADIA to bid for UK's only high-speed railway

ADIA to bid for UK's only high-speed railway

The world's biggest sovereign wealth fund, the Abu Dhabi Investment Authority (ADIA) is to make bid for the Channel Tunnel high-speed rail link, jointly with Morgan Stanley and private equity group 3i.

The sale, which is expected to bring 1.5 billion to 2 billion pounds, will to use to support Britain's huge debt pile.

The deadline for submitting an offer for the first round of bids is 17 August.

The government has put the sale of UK's only high-speed railway in June.

The 110-km High Speed 1 (HS1) line runs from St. Pancras station in central London to the Channel Tunnel and its sale, if successfully completed, will be the first major British transport infrastructure sale after the sale of Gatwick airport in London by BAA in the end of 2009.

ADIA has purchased 15 percent holding of Gatwick Airport in the beginning of this year.

The UK government has received around 15 applications to bid for HS1.

The other bidders include Channel tunnel operator, Groupe Eurotunnel, which is supported by its biggest investors, Goldman Sachs Infrastructure Partners and the infrastructure division of Prudential unit M&G, Infracapital.


FrenchTribune Specials

Tips to save Your Skin from Harmful UV Rays

To prevent skin cancer, people must apply sunscreen regularly, say experts. People can save their skin from long-term damage through routine protection. Some people in Texas don’t understand the real strength of sun rays and avoid applying sunscreen, which according to skin experts, could be harmful.

Experts said people should not take...

Most Popular

Domino’s pulls out of ‘T-Mobile Tuesdays’ promotion due to overwhelming demand

In its latest 'Un-carrier' move announced earlier this...

Samsung is acquiring cloud computing firm Joyent

In a Thursday announcement, bigwig South Korean device...

Plume offers new bandwidth booster solution

Palo Alto-based startup Plume is the latest company to...

'Pokémon Go' has a target release date of "end of July"

During the course of its second-day E3 live stream on...

Poll

Can Greece Come out of Economic Problems: