Rail sell-off sparks overseas interest
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• Foreign firms are lining up to take advantage of the British Rail privatisation—with US companies leading the way.
The Railroad Development Corporation (RDC) and Wisconsin Central are both interested in the sale of BR's three aggregate carriers, scheduled for the beginning of 1996. Serious bidders will be sent more information in September.
Both American firms want partnerships with management buy-out teams and already own railways outside the US. RDC owns part of Argentina's railway, while Wisconsin Central has a stake in New Zealand's network.
Meanwhile, Generale de Eaux, the sixth largest corporation in France, is making a bid for South West Trains which would give it a stake in the Waterloo line.
Chiefs from both American firms are visiting Britain at the end of this month. Henry Posner, RDC president, and Edward Burkhardt, president of Wisconsin Central are speaking at a conference arranged by the Rail Freight Group, the rail users council.
The three regional BR companies, Transrail in the West, Mainline in the South and Loadhaul in the North are expected to be easier to sell than their loss-making stahlemates Freightliner and Red Star. The three, formerly united and known as Trainload Freight, made £85m operating profit on sales of ,E432m in 1993/94.