Firms pitch to advise on Eurostar sale
11th February 2014
Legal firms across the country are to pitch for the advisory role on the sale of the UK’s stake in Eurostar, after the Department for Transport announced it will welcome bids. The sale is set to be one of the most high profile state divestments of the year, should the transaction go ahead.
The UK’s stake in the business is valued at around £200 million according to a number of analysts, making the legal advisory position on the sale one of high significance. Lawyers taking on the solicitor roles that will make up the advisory team will be under immense pressure to ensure the sale of the UK government shareholding will be value for money for the British taxpayer.
The Eurostar has been increasingly successful of late, taking £52 million in profits in 2012 on the back of sales revenues of £799 million, according to this article. This success was followed by the business transporting over 10 million passengers over the course of last year, marking the first time Eurostar have achieved such a figure since its opening in 1994.