Govt selling its Eurostar stake in wider asset sell-off

The Government is expected to announce plans to sell its 40% stake in the cross-channel Eurostar as part of a target to raise £20 billion through the privatisation of financial and corporate assets by 2020.

Eurostar
Eurostar is majority owned by French state rail firm, SCNF. Credit: PA

Danny Alexander, the chief secretary to the treasury, will announce the Eurostar sale as part of a wider £375 billion investment programme to 2030 and beyond, called the new national infrastructure plan (NIP).

Last month Eurostar revealed it had seen an increase in revenues and passenger numbers compared with last summer.

Sales revenue for the period July-September 2013 reached £207 million - a 10% increase on the same period last year - and passenger numbers in summer 2013 rose 5% to 2.7 million.

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Govt to sell 40% Eurostar stake

The Government will announce plans to sell its 40% stake in Eurostar as part of wider plans to privatise £20 billion of assets by 2020. It is to reveal details of its £375bn public and private investments in infrastructure projects across the UK.