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04/03/2015
Government Sells Stake In Eurostar
The UK Government has agreed to sell its stake in high speed rail operator Eurostar for £757.1m.
Chancellor George Osborne, and the Chief Secretary, Danny Alexander, announced a consortium comprising of Caisse de dépôt et placement du Québec (CDPQ) and Hermes Infrastructure has agreed to acquire government's 40% stake in Eurostar for £585.1m.
The sum exceeds expectations for the 40% stake when the government announced that it was inviting offers for its stake in October 2014.
Eurostar has, on closing of the sale of the government stake, agreed to redeem HMG's preference share, providing a further £172m for the exchequer.
Mr Osborne said: "It's great that we have reached an agreement to sell the UK's shareholding in Eurostar that delivers a fantastic deal for UK taxpayers that exceeds expectations.
"Investing in the best quality infrastructure for Britain, getting the best value for money for the taxpayer and tackling our country's debts are key parts of our long term economic plan, and in today's agreement, we are delivering on all three."
(CD/JP)
Chancellor George Osborne, and the Chief Secretary, Danny Alexander, announced a consortium comprising of Caisse de dépôt et placement du Québec (CDPQ) and Hermes Infrastructure has agreed to acquire government's 40% stake in Eurostar for £585.1m.
The sum exceeds expectations for the 40% stake when the government announced that it was inviting offers for its stake in October 2014.
Eurostar has, on closing of the sale of the government stake, agreed to redeem HMG's preference share, providing a further £172m for the exchequer.
Mr Osborne said: "It's great that we have reached an agreement to sell the UK's shareholding in Eurostar that delivers a fantastic deal for UK taxpayers that exceeds expectations.
"Investing in the best quality infrastructure for Britain, getting the best value for money for the taxpayer and tackling our country's debts are key parts of our long term economic plan, and in today's agreement, we are delivering on all three."
(CD/JP)
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The government has announced that it is to sell its 40% stake in the Eurostar cross-Channel train service, as part of a plan to boost public finances. The sale is part of the government's National Infrastructure Plan laid out last year, through which it hopes to raise some £20bn from corporate and financial asset sales by 2020.
Govt To Sell 40% Stake In Eurostar
The government has announced that it is to sell its 40% stake in the Eurostar cross-Channel train service, as part of a plan to boost public finances. The sale is part of the government's National Infrastructure Plan laid out last year, through which it hopes to raise some £20bn from corporate and financial asset sales by 2020.
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
