HSBC Sells Rail Unit To Investment Funds For $3.3B

Law360, New York (November 4, 2010, 6:02 PM EDT) -- HSBC Holdings PLC has agreed to sell its railway unit to a consortium of investment funds that includes Morgan Stanley Infrastructure Partners for $3.34 billion.

HSBC said Thursday that the sale price of the U.K. rail group was “modestly” higher than the value of the assets as stated in HSBC's accounts.

The rail group was sold to Eversholt Investment Group, a consortium of investors led by 3i Infrastructure PLC, Morgan Stanley Infrastructure Partners and STAR Capital Partners.

Eversholt, formerly known as HSBC Rail UK Ltd., owns...
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