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Hong Kong investor buys UK trains

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Billionaire Li Ka-shing

Billionaire Li Ka-shing

Bloomberg

Billionaire Li Ka-shing

Almost a third of all Britain's trains have been bought by billionaire Hong Kong investor Li Ka-shing after rolling stock group Eversholt Rail was sold to CK Investments.

Eversholt owns 28pc of Britain's passenger trains and was bought in a deal that will see the current owners receive about £1bn, with CKI taking on £1.5bn of the rolling stock group's debt.

The company leases its mainly electrically-powered fleet - which comprises about 3,500 vehicles - to 11 of Britain's train operating companies.

Eversholt is jointly owned by FTSE 250-listed 3i Infrastructure, along with Morgan Stanley Infrastructure Partners and STAR Capital Partners.

All three have equal stakes in the business.

3i Infrastructure said that it will receive £358m from the sale, news which sent the company's shares up 5pc.

Irish Independent