A blind date that ended in marriage

Article Abstract:

UK financial adviser Arthur Andersen Corporate Finance (AACF) has dealt with the sale of three British Rail privatized rolling stock companies (Roscos) since 1995. The first government owned Rosco was bought by a management buyout of Eversholt in 1995 for 580 million pounds sterling. The Royal Bank of Scotland paid 395 million pounds sterling for Rosco Angel Trains in 1997. AACF had to persuade potential buyers of the future possibilities in the market, despite uncertainty regarding government policy and lease renewals.

Mergers & Acquisitions, United Kingdom, British Rail, Arthur Andersen Corporate Finance

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On the right track for privatisation. (passenger rail franchises)

Article Abstract:

The sales of Great Western and SWT were completed in February 1996 and a programme to sell each of the 25 train franchises is currently underway. Such rail services will be franchised to the private sector for 7-15 years, after which time the government can let the franchise again via competitive tender. The restructuring has meant dividing British Rail into several entities, including the rolling stock companies and train operating companies.

Management, Practice, Privatization, Privatization (Business), Railroad management

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All aboard for the rail deals

Article Abstract:

There has been a flurry of buyout activity with the ongoing privatisation of British Rail. Several rolling stock companies (ROSCOs) have yet to complete formal buyouts although the sales of the first three train operating companies (TOCs) were announced and completed in December 1995. There is also management buyout interest in the freight companies.

Surveys, Management buyouts

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