views

Consortium to bid for train unit

A consortium of Morgan Stanley Infrastructure, 3i Infrastructure and Star Capital is set to submit a bid today for HSBC’s train unit, valued by the company at £2bn. The group is to make the bid, sources said, as HSBC tries to attract more interest in its train leasing unit, Eversholt, which owns a third of Britain’s rolling stock. The business benefits from long asset lives of some 30 years, but is exposed to renewal risk in its leasing contracts.