Forbes – US hedge fund Citadel Investment Group is planning an opportunistic bid for UK rail operator GNER, hoping to acquire the group cheaply because of debt problems at its Bermuda-based owner, Sea Containers, the Sunday Express reported without citing sources.
Citadel declined to comment, the paper said, while Sea Containers said talk of a sale of GNER was ‘speculative’.
Sea Containers defaulted on the terms of some of its bonds last month, and in March breached several lending agreements with its bankers. GNER last week also suffered a setback when it lost a legal battle to prevent another train operator from setting up a rival service on the UK east coast.
