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 Howard Jacobson: Let's see the 'criticism' of Israel for what it really is
- 3 Belgium fan Axelle Despiegelaere lands L'Oreal campaign after World Cup viral photo
- 4 Britney Spears sings 'Alien' without Auto-Tune in embarrassingly brilliant leaked audio clip
- 5 PornHub begs users to stop uploading video clips of Brazil getting beaten 7-1
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Instagram of US airport security chiefs: Lipstick knives and IED training kits among items seized
‘Ryan Gosling got someone pregnant and it's not me. Brazil you think you’re devastated…’
Israel-Palestine crisis: ‘We just want it to end… We don’t deserve to live like this’
Israel-Palestine crisis: Eight killed in Gaza Strip cafe while watching World Cup semi-final
Sustained immigration has not harmed Britons' employment, say government advisers
Australia facing international condemnation after turning around Sri Lankans at sea
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
There’s a nasty smell in the political air – and it’s coming from the Tories
Vanessa Feltz criticises 'vile' reaction to Rolf Harris allegations
iJobs Money & Business
£60000 - £75000 per annum: Harrington Starr: Business Analyst Consultant (Fina...
£60000 per annum: Harrington Starr: A leading provider in investment managemen...
£600 - £700 per day: Harrington Starr: AVS, JVS Openlink Endur Developer JVS, ...
£30000 per annum: Harrington Starr: A global leader in trading platforms and e...