HICL takes minority stake in Cross London Trains

HICL Infrastructure said it had bought a minority equity stake in Cross London Trains (XLT) from funds managed by Equitix Investment Management for an undisclosed sum.

XLT is a public private partnership that owns the recently delivered fleet of rolling stock operating on the Thameslink passenger rail route which covers the North-South London commuter rail corridor and serves both Luton and Gatwick airports.

Completion of the deal is expected in the third quarter of 2022. The investment will be funded by drawing upon HICL's £730m corporate credit facility and existing cash resources, HICL said, adding it would represent 3% of its £3bn portfolio by value.

Reporting by Frank Prenesti at Sharecast.com