The Group expects a sale price of £1.5bn and have been approached by potential buyers including Australian investment and infrastructure firms Babcock & Brown and Macquarie. Both these firms, in conjunction with UK private equity house Terra Firm and US insurer AIG, are also eager to buy out Royal Bank of Scotlands subsidiary Angel Trains
HSBC may sell its train leasing
division, HSBC Rail, as pressure mounts for the global bank to
raise cash in the wake of the credit crisis.
The Group expects a sale price of £1.5bn and have been
approached by potential buyers including Australian investment and
infrastructure firms Babcock & Brown and Macquarie. Both these
firms, in conjunction with UK private equity house Terra Firm and
US insurer AIG, are also eager to buy out Royal Bank of Scotland’s
subsidiary Angel Trains.
According to the Sunday Times, much of HSBC Rail’s
£1.5bn value is likely to be debt. HSBC is suffering from the huge
writedowns from exposure to the US sub-prime mortgage market in
2007, and plans to offload its non-core assets, the newspaper
said.
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