Canadian pension funds Borealis Infrastructure and Ontario Teachers’ Pension Plan have initiated a strategic review of their £5.8bn high-speed UK railway HS1 ownership after receiving several offers from third parties.
A 30-year concession was jointly acquired by the companies from the Secretary of State for Transport in 2010. For a purchase sum of £2.1bn, they now operate and manage the HS1 network.
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Both companies plan to appoint a financial adviser and have not set any specific timetable for the review.
The HS1 network consists of the 109km high-speed rail line connecting London to the Channel Tunnel, in addition to four international stations along the St Pancras, Stratford, Ebbsfleet, and Ashford route.
The line carries international passenger traffic between the UK and Continental Europe, as well as domestic passenger traffic to and from stations in Kent and east London. Crossing the River Medway and the River Thames, it terminates at St Pancras railway station on the north side of central London.
