HSBC to sell Eversholt Rail to private equity consortium for £2.1 billion


HSBC Holdings PLC (LON:HSBA) said it has agreed to sell Eversholt Rail Group (Eversholt) to Eversholt Investment Group, a consortium consisting of investment funds managed by 3i Infrastructure plc, Morgan Stanley Infrastructure Partners and STAR Capital Partners.

The transaction values Eversholt's gross assets at approximately £2.1 billion, which is modestly above the carrying value at which such assets are stated in HSBC's accounts.

Eversholt owns approximately one third of the UK's rolling stock. It provides a comprehensive range of rolling stock leases and asset management services for the UK rail passenger and freight markets.

 The transaction is expected to complete during the fourth quarter, 2010.

The Eversholt Rail Group comprises three holding companies: European Rail Finance Holdings Ltd, Eversholt Rail Holdings (UK) Ltd, and Eversholt Finance Holdings Ltd.

Quick facts: HSBC

Price: £6.16

Market: LSE
Market Cap: £124.13 billion

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