Borealis Infrastructure (“Borealis”), the infrastructure investment manager of OMERS, and Ontario Teachers’ Pension Plan (“Ontario Teachers’”) announce that a strategic review of their ownership of HS1 Ltd (“HS1”) has been initiated. This is following a number of investment inquiries from third parties. A financial adviser will be appointed in due course. No specific timetable has been set for the review, and further updates will be made as required. The strategic review may conclude with no action.
In 2010 Borealis and Ontario Teachers’ jointly acquired the 30-year concession from the Secretary of State for Transport to operate and manage the HS1 network. The HS1 network comprises the 109-km high speed rail line connecting London to the Channel Tunnel, as well as the four international stations along the route (St Pancras, Stratford, Ebbsfleet, and Ashford). HS1 has successfully delivered a highly reliable railway to a growing number of passengers, achieved significant efficiency savings for customers and improved the passenger experience. St Pancras International station has been voted the UK’s number one railway station for the last six years in the Transport Focus National Passenger Survey.