Two Magic Circle firms are advising on a deal that will see British banking giant HSBC sell its U.K. train-leasing business to a private equity consortium for roughly $3.3 billion.
Acquiring London-based Eversholt Rail Group from HSBC are British private equity firms 3i Group and Star Capital Partners and Morgan Stanley’s infrastructure group. Eversholt is part of HSBC Rail, one of three major rolling stock companies in the U.K. that were created in 1994 through the privatization of British Rail. (The privatization process remains controversial.)
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