Citi and UBS to advise on sales
Sunday 08 November 2009
Investment banks Citi and UBS will be retained as advisers to the Government and London & Continental Railways (LCR), when the Channel Tunnel rail link is sold next year.
The move is part of the Government's proposed £16bn of asset sales, which also include the Tote and the Dartford Crossing.
Citi and UBS have been working for the Department for Transport and LCR respectively on the reorganisation and break-up of the business, which also includes property around St Pancras International station in London. The Government in effect nationalised LCR, which built the rail link, this summer.
An industry source said that the advisers' recent experiences on LCR made them the only sensible choices to lead the sale.
"It would be utterly ridiculous to have anyone other than UBS and Citi working on the sell-off," he said. "The restructuring isn't finished yet, and that has been incredibly complicated."
The rail link is now known as High Speed 1.
- 1 Barbarians vs Samoa interrupted by sprinklers as fans criticise lack of Wi-Fi and poor seating at West Ham's Olympic Stadium
- 2 Watch the Supermoon live: How to see the brightest Moon of the year tonight
- 3 Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
- 4 Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
- 5 David De Gea to Real Madrid: Real finally get their man with £29m bid for Manchester United goalkeeper
Caitlyn Jenner car crash: Driver who died in collision sued by surviving passengers for $18.5m
Watch the Supermoon live: How to see the brightest Moon of the year tonight
Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
Turkey duped the US, and Isis reaps rewards
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
Tony Blair attacks Jeremy Corbyn's 'Alice In Wonderland' politics
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...