|Archived Save the Train forum articles - 2005 to 2010. See below
HSBC To Sell ROSCO - 8198/13269
Written by Lee on Tuesday, 29th June 2010
[quote="Reuters"]HSBC in final price negotiations on train sale-sources
June 28 (Reuters) - HSBC Holdings PLC (HSBA.L) is in final price negotiations with a consortium of infrastructure funds on the sale of its rolling stock business, Eversholt, several people familiar with the matter said on Monday.
Morgan Stanley (MS.N) Infrastructure, 3i Infrastructure (3IN.L) and Star Capital are in advanced talks to buy Eversholt, which owns one third of Britain's rolling stock and for which HSBC expects to be paid some 2 billion pounds, the sources said.
"They are haggling over the price, they have to decide how much equity they put in," one of the sources said on condition of anonymity because details of the sale are confidential.
HSBC, Morgan Stanley and Star Capital declined to comment. A 3i Infrastructure spokeswoman was not immediately available for comment.
The rail unit has a UK fleet of over 4,000 train coaches and its sale follows the rationale of the divestments of the other two UK train leasing companies, as banks look to raise cash by disposing assets not central to their businesses.
In June 2008, Royal Bank of Scotland (RBS.L) agreed to sell its train leasing firm, Angel Trains, to a consortium led by Babcock & Brown -- now Arcus Infrastructure -- for an enterprise value of 3.6 billion pounds.
This was followed by the sale of the British rolling stock firm Porterbrook by Abbey National -- now part of Santander (SAN.MC) -- to a consortium of Deutsche Bank (DBKGn.DE), LLoyds TSB (LLOY.L) and BNP Paribas (BNPP.PA)-sponsored Antin Infrastructure Partners for 2 billion pounds.[/quote]
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Save the Train was the campaign to bring an approriate train service back to and through Melksham.
Most big contributors are still around writing at the Coffee shop forum where new members are very welcome.
The train has been saved - sort of - we have stepped back up from an unusable service to a poorish one but it's doing very well. We did that through setting up the TransWilts Community Rail Partnership. That fulfilled its early objectives; it has been taken over by local and regional government types who are now doing medium and long term work. The team from this forun can also be found at the Melksham Rail User Group (which was the Melksham Rail Development Group at the time these articles were written and we had no users.
We mustn't loose sight, though, that the train service remains poor and needs our community support in marketing and campaigning to keep it going in a positive direction ... and all the more so when we're expecting to find a different normallity once we get out of the Coronavirus Pandemic and head for zero carbon via the climate crisis. Yes, it's saved ... it's now a key community facility ... the need for enhancement and the strong and near-universal local support remain, and the rail industry and goverment remain slow to move and provide the enhancements even to level us up with other towns. Please support the Melksham Rail User Group - now very much in partnership rather than protest with the rail industry and local government, including GWR, TransWilts and unitary and town councils. And please use the trains and buses, and cycle and walk when you can.
-- Graham Ellis, (webmaster), February 2021
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