The Government are currently engaged in a restructuring of London and Continental Railways. Following this, it is the Government’s intention, as market conditions allow, to sell a long-term concession for High Speed 1 in such a way as to maximise value for money for the taxpayer.
The estimate of the expected proceeds is commercially confidential and to publish the information might condition the competitive sale process and damage value.
The restructuring of London and Continental Railways (LCR) announced on 8 June 2009 involved no further commitment of public funds over and above those committed during the restructurings of the company in 1998, 2001 and 2002.
The current financial restructuring provides for the redistribution of support already committed to allow LCR’s subsidiary businesses to be established on a stand-alone commercial basis. This will allow the value of those businesses to be realised in due course with a commensurate reduction in the overall level of state support.