Government nets £2bn in sale of High Speed 1 to Canadian pension funds

The two pension funds have won the right to operate HS1 as part of a 30 year concession

The two pension funds have won the right to operate HS1 as part of a 30 year concession

Two Canadian pension funds have clinched a £2bn deal to acquire the High Speed 1 rail route.

The government announced the sale of the line, which was completed in 2008, in June as part of efforts to reduce national debt.

Transport secretary Philip Hammond this morning announced a consortium comprising Borealis Infrastructure and Ontario Teachers’ Pension Plan will pay the government a total concession value of £2.1bn to operate the line for the next 30 years.

The consortium...