A consortium formed of Morgan Stanley Infrastructure, 3i
Infrastructure and Star Capital is rumoured to be preparing to make
an offer on HSBC’s train leasing business.
HSBC announced plans to sell HSBC Rail earlier this year and the
consortium is looking at putting in its bid by April 14, according
to sources.
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Another consortium formed of investment giant JP Morgan and
Australian financial services group Macquarie was reported to be
interested in the purchase in February.
It is now reportedly out of the running, while Macquarie is
advising the consortium of Morgan Stanley, 3i and star, sources
say.
Star Capital was initially reported to be in the bidding on its
own.
HSBC valued its train unit, Eversholt, at £2billion
(€2.27billion), and it currently owns a third of Britain’s rolling
stock, or about 4,000 trains.
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By GlobalDataThe £2 billion acquisition cost will include £200 million of
capital expenditure, Reuters has reported.
Claire Hack
