CDPQ and Hermes to Buy 40% Stake in Eurostar from UK Treasury

trainThe UK Treasury is selling its 40% stake in Eurostar, a high-speed railway service connecting London with Paris and Brussels, to Patina Rail LLP for £757.1 million. Patina Rail LLP is a consortium made up of Canada pension Caisse de Depot et Placement du Quebec (CDPQ) and the UK’s Hermes Infrastructure, a unit of Hermes Investment Management. CDPQ will end up owning 30% of Eurostar, while Hermes 10%. French state-owned rail operator Société Nationale des Chemins de Fer Français (SNCF) will keep its 55% stake in Eurostar. Société Nationale des Chemins de Fer Belges (SNCB) will keep its ownership stake at 5%. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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