09.12.16
HS1 could be sold off as owners reveal third-party interest
HS1 could be up for sale after the company that holds the franchise announced a review of its ownership.
In 2010, Borealis Infrastructure and Canadian pension fund Ontario Teachers’ Pension Plan acquired the 30-year contract from the DfT to operate and manage HS1.
However, in a statement released yesterday, Ontario Teachers confirmed that the partnership was carrying out a strategic review of its ownership of HS1 following “a number of investment inquiries from third parties”.
It added that it would announce the appointment of a financial adviser “in due course”, but that no timetable had been set and it had no definite commitment to sell.
HS1, the 109km high-speed rail route between London St Pancras and the Channel Tunnel, exceeds its targets for revenue and performance in its most recent ORR review.
It announced in September that it is appointing Dyan Crowther, former COO of Govia Thameslink Railway, as its new chief executive.
(Image c. Department for Transport)
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