Canadian investors Borealis Infrastructure and Ontario Teachers’ Pension Plan, owners of HS1, the high-speed railway connecting London to the Channel Tunnel, have sold it to a consortium advised by InfraRed Capital Partners and Equitix Investment Management.
HICL Infrastructure Company and the Equitix funds will acquire 35 per cent each. The National Pension Service (NPS) of the Republic of Korea funds managed by InfraRed will acquire 30 per cent. The value of the deal has not been disclosed, but it is estimated at over £3bn (3.4 billion euros).
HS1 operates the 109 km line that runs from the capital to Folkestone in Kent, connecting St Pancras station with the Channel Tunnel. It is responsible for the operations and maintenance of the track, as well as the four stations served by the route: St Pancras International, Stratford International, Ebbsfleet International, and Ashford International. Borealis and the Ontario Teachers’ Pension Plan took over a 30-year concession for HS1 in 2010 for £2.1bn (2.4 billion euros).
“We are very pleased to be investing in HS1, a strategically important and core UK infrastructure asset. We look forward to working with the management team and our partners to further build on the success that the business has enjoyed to date and facilitate the continued delivery of a high-quality service for passengers,” Ben Loomes, managing partner and head of infrastructure, InfraRed, said.
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