Cheung Kong Infrastructure is set to bid for UK rolling stock company Eversholt Rail in a sale that is expected to fetch more than $1 billion, according to a source familiar with the matter.
The sale process is in its preliminary stages and Cheung Kong Infrastructure is expected to face competition from global infrastructure funds and pension funds also seeking stable, yielding assets.
Royal Bank of Canada is advising Cheung Kong Infrastructure.
Eversholt Rail, which owns UK passenger and freight rolling stock, has a one-third share of the UK passenger rolling stock market. It was one of three rolling stock companies formed when...