Eurostar attracts offers from CIC and GIC
The UK government’s sale of a 40% stake in Eurostar is believed to have attracted offers from China Investment Corporation (CIC) and GIC of Singapore, The Sunday Telegraph reported. The report did not cite a source for the information but said a bid battle is taking place between the two sovereign wealth funds, as well as a third consortium comprising the French life insurer Predica and the private-equity house 3i.
The UK government appointed UBS to handle its stake in the Anglo-French rail company two months ago and bids of up to GBP 500m (USD 786m) are expected, the report said. It noted that first-round offers were received early last week.
Sunday Telegraph