The UK government will auction off the Channel Tunnel Rail Link as part of a huge sale of key assets to bring some much needed money into the country’s depleted coffers. The government expects to make some GBP 2bn (USD 2.9bn) from the sale.
The new coalition government will get a huge boost from the Privatization of High Speed 1, the railway used by Eurostar on its route between London and the Channel Tunnel, in its attempt to reduce the country’s GBP 167bn (USD 242.7bn) annual debt.
According to the Independent, the Department for Transport (DfT) and state-owned rail operator London & Continental Railways (LCR) are expected to distribute a sales document to potential bidders ahead of the emergency budget on 22 June.
Citi and UBS have been instructed as financial advisors and are acting for the DfT and LCR respectively.
