Reuters announce Chiltern Railways for sale
 

On 7 Jul, 18:42, ONscotland wrote:
On 6 Jul, 08:44, wrote:





On 6 Jul, 03:20, TheOneKEA wrote:

On Jul 5, 5:07 pm, Bob wrote:

Possible bidders would include Britain's top five bus and rail
operators, Stagecoach Group (SGC.L: Quote, Profile , Research), Go-
Ahead Group (GOG.L: Quote, Profile , Research), First Group (FGP.L:
Quote, Profile , Research), National Express (NEX.L: Quote, Profile ,
Research) and Arriva (ARI.L: Quote, Profile , Research), as well as
Germany's Deutsche Bahn [DBN.UL] and French bus and rail operator
Keolis, the source added.

Oh wonderful. If any of the usual suspects acquire it I can see
Chiltern getting sucked into a tiolet tank and turned into a shadow of
its clean, reliable, expansionist, common-sense self. Whoopee.

*has horrible mental images of Barbie swirls all over the 168/Xs*

There are suggestions going round that whilst Chiltern is doing very
well on punctuality etc. there are many problems to do with other "key
performance indicators" linked to retaining the franchise that need
very urgent attention. (suggested as one reason behind the change of
MD recently announced) - so whilst it may seem to be doing very well
it could be that there are issues that need to be resolved elsewhere
in the company that we aren't aware of.

Tony

Probably not to do with 'key performance indicators', but my last few
trips on Chiltern have been very disappointing train. A recent journey
to Birmingham was on what was perhaps the grottiest train I have ever
travelled on - the walls inside had ancient coffee stains, the carpets
looked like they hadn't been cleaned in months and the table was
sticky. Yuck.

Their staff are good, and Marylebone station is a credit to them (I
don't think it's a Network Rail one)... but I for one find Chiltern's
reputation better than the reality.

That said, I bet National Express will be keen to pick them up... or
First. Please don't let it be First!
Would a management buy out be viable (afterall that's what led to M40
Trains being created in the first place)


Richard Bowker isn't a fan (so he told me) of buying up other
franchises/businesses.

And - re. another point - if Chiltern decide to "take their ball home"
they lose a very large performance bond and could still be liable to
pay any costs of running the franchise until it was re-let - including
the cost of reletting it.
When Connex let go of South Central early GoVia actually had to buy
them out of the remainder of the franchise.

Tony

Reuters announce Chiltern Railways for sale
 

In article ,
Arthur Figgis wrote:
Peter Masson wrote:
"The Good Doctor" wrote
Evergreen 2 was carried out by John Laing Group on a Design, Build,
Finance and Transfer basis. John Laing Group funded the project and
took full commercial risk. However the assets became the property of
Network Rail, because that is the way the franchise system works,
Chiltern Railways being effectively prevented from owning such
assets.

AIUI Chiltern do own a couple of infrastructure assets, including Warwick
Parway station and the 'new' platform at Princes Risborough.

So does that mean Chiltern could "take their ball home", if a situation
ever arose where they felt like doing so (perhaps a Connex-style early
termination)? "It's our platform, and you can't have it..."

"It's our tunnel ...."

Nick
--
http://www.leverton.org/blosxom ... So express yourself

Reuters announce Chiltern Railways for sale
 

On 7 Jul, 22:33, wrote:
On 7 Jul, 18:42, ONscotland wrote:



On 6 Jul, 08:44, wrote:

On 6 Jul, 03:20, TheOneKEA wrote:

On Jul 5, 5:07 pm, Bob wrote:

Possible bidders would include Britain's top five bus and rail
operators, Stagecoach Group (SGC.L: Quote, Profile , Research), Go-
Ahead Group (GOG.L: Quote, Profile , Research), First Group (FGP.L:
Quote, Profile , Research), National Express (NEX.L: Quote, Profile ,
Research) and Arriva (ARI.L: Quote, Profile , Research), as well as
Germany's Deutsche Bahn [DBN.UL] and French bus and rail operator
Keolis, the source added.

Oh wonderful. If any of the usual suspects acquire it I can see
Chiltern getting sucked into a tiolet tank and turned into a shadow of
its clean, reliable, expansionist, common-sense self. Whoopee.

*has horrible mental images of Barbie swirls all over the 168/Xs*

There are suggestions going round that whilst Chiltern is doing very
well on punctuality etc. there are many problems to do with other "key
performance indicators" linked to retaining the franchise that need
very urgent attention. (suggested as one reason behind the change of
MD recently announced) - so whilst it may seem to be doing very well
it could be that there are issues that need to be resolved elsewhere
in the company that we aren't aware of.

Tony

Probably not to do with 'key performance indicators', but my last few
trips on Chiltern have been very disappointing train. A recent journey
to Birmingham was on what was perhaps the grottiest train I have ever
travelled on - the walls inside had ancient coffee stains, the carpets
looked like they hadn't been cleaned in months and the table was
sticky. Yuck.

Their staff are good, and Marylebone station is a credit to them (I
don't think it's a Network Rail one)... but I for one find Chiltern's
reputation better than the reality.

That said, I bet National Express will be keen to pick them up... or
First. Please don't let it be First!
Would a management buy out be viable (afterall that's what led to M40
Trains being created in the first place)

Richard Bowker isn't a fan (so he told me) of buying up other
franchises/businesses.

Tony

I think that when they had nine franchises, I could see why they would
wonder about buying TOCs.
But they've lost seven franchises now. I can't see them standing back
and letting Go Via or First or Stagecoach snapping up an opportunity
like Chiltern. Plus it gets them the Overground again.

Reuters announce Chiltern Railways for sale
 

On 8 Jul, 08:28, ONscotland wrote:
On 7 Jul, 22:33, wrote:





On 7 Jul, 18:42, ONscotland wrote:

On 6 Jul, 08:44, wrote:

On 6 Jul, 03:20, TheOneKEA wrote:

On Jul 5, 5:07 pm, Bob wrote:

Possible bidders would include Britain's top five bus and rail
operators, Stagecoach Group (SGC.L: Quote, Profile , Research), Go-
Ahead Group (GOG.L: Quote, Profile , Research), First Group (FGP.L:
Quote, Profile , Research), National Express (NEX.L: Quote, Profile ,
Research) and Arriva (ARI.L: Quote, Profile , Research), as well as
Germany's Deutsche Bahn [DBN.UL] and French bus and rail operator
Keolis, the source added.

Oh wonderful. If any of the usual suspects acquire it I can see
Chiltern getting sucked into a tiolet tank and turned into a shadow of
its clean, reliable, expansionist, common-sense self. Whoopee.

*has horrible mental images of Barbie swirls all over the 168/Xs*

There are suggestions going round that whilst Chiltern is doing very
well on punctuality etc. there are many problems to do with other "key
performance indicators" linked to retaining the franchise that need
very urgent attention. (suggested as one reason behind the change of
MD recently announced) - so whilst it may seem to be doing very well
it could be that there are issues that need to be resolved elsewhere
in the company that we aren't aware of.

Tony

Probably not to do with 'key performance indicators', but my last few
trips on Chiltern have been very disappointing train. A recent journey
to Birmingham was on what was perhaps the grottiest train I have ever
travelled on - the walls inside had ancient coffee stains, the carpets
looked like they hadn't been cleaned in months and the table was
sticky. Yuck.

Their staff are good, and Marylebone station is a credit to them (I
don't think it's a Network Rail one)... but I for one find Chiltern's
reputation better than the reality.

That said, I bet National Express will be keen to pick them up... or
First. Please don't let it be First!
Would a management buy out be viable (afterall that's what led to M40
Trains being created in the first place)

Richard Bowker isn't a fan (so he told me) of buying up other
franchises/businesses.

Tony

I think that when they had nine franchises, I could see why they would
wonder about buying TOCs.
But they've lost seven franchises now. I can't see them standing back
and letting Go Via or First or Stagecoach snapping up an opportunity
like Chiltern. Plus it gets them the Overground again.


Agree 100%. National Express' recent record would indicate that the
only way they will increase the number of rail franchises they hold is
to take over other TOCs.

Obviously, I will eat my words if they win InterCity East Coast!

Reuters announce Chiltern Railways for sale
 

On Fri, 6 Jul 2007, JP wrote:

SWTs fleet visit Salisbury very regularly and get tender loving care

Hmm. I suppose with the demise of steam, trains now have to go to great
lengths to get some tender lovin'. Didn't realise Salisbury Depot was now
functioning as a rolling stock brothel, though.

Insert jokes about greasy coupling etc as desired.

Sorry.

tom

--
Tech - No Babble

Reuters announce Chiltern Railways for sale
 

Further report from Reuters
Quote
LONDON (Reuters) - Chiltern Railways could be auctioned as soon as
late August by fund manager Henderson , with bids expected to exceed
80 million pounds, industry sources said on Friday.

One of the sources said bids could approach 100 million pounds,
adding, "It should happen in early autumn -- around late August or
early September."

Another source said on Thursday that Henderson had appointed KPMG as
advisers for a sale of the train operator, so that its project manager
division, John Laing, can focus on its core infrastructure activities.
This source later said Chiltern could be worth around 80 million
pounds.

Chiltern Railways has a franchise to run services northwest from
London towards Birmingham until 2020. It was acquired by Henderson
last year when the fund manager bought John Laing for around 950
million pounds.

"It's an easier business to manage than most, as one company runs the
line end to end, and the assets are in very good nick (condition),"
said one of the sources.

Chiltern is seeking significant compensation after a tunnel collapsed
on its line during the construction overhead of a new Tesco store at
Gerrards Cross near London.

The source said Henderson would not have started the sale process
without reaching an agreement with Tesco.

POSSIBLE BIDDERS

Another of the sources, referring to bus and rail operator Go-Ahead
Group , said, "Go-Ahead would not rule out looking at this fairly
closely."

Analyst Joe Thomas at Investec said, "Go-Ahead is the most undergeared
stock in the sector, and they have a stack of cash, but you shouldn't
rule out infrastructure funds being interested too."

Go Ahead shares rose 1.4 percent to 27.37 pounds by 1:56 p.m. British
Time.

National Express Group is also seen by analysts as a possible bidder,
having last month missed out on a bid to run East Midland rail routes.

Other possible bidders for Chiltern include Britain's Stagecoach Group
and Arriva , Germany's Deutsche Bahn and French bus and rail operator
Keolis.

Laing's joint venture with Hong Kong-based MTR 0066.HK, running the
London Overground system from November, may also be sold, said one of
the sources.

MTR/Laing last month won a competition to run London Overground --
taking over from Silverlink Metro on a route that combines the North
London Line and the soon to be modernised East London tube line.

KPMG, Henderson, MTR and Go-Ahead all declined to comment.
Unquote

Reuters announce Chiltern Railways for sale
 

"Bob" wrote in message
ups.com...
Further report from Reuters
Quote
LONDON (Reuters) - Chiltern Railways could be auctioned as soon as
late August by fund manager Henderson , with bids expected to exceed
80 million pounds, industry sources said on Friday.

One of the sources said bids could approach 100 million pounds,
adding, "It should happen in early autumn -- around late August or
early September."


Laing's joint venture with Hong Kong-based MTR running the
London Overground system from November, may also be sold, said one of
the sources.


Interesting that the possibility of retaining the Overground concession
exists - of course an operating concession with no farebox risk may be seen
as a better earner than Chiltern, a franchise (although much longer than the
norm).

Paul

Reuters announce Chiltern Railways for sale
 

On Jul 10, 12:18 pm, Bob wrote:
Further report from Reuters
Quote
LONDON (Reuters) - Chiltern Railways could be auctioned as soon as
late August by fund manager Henderson , with bids expected to exceed
80 million pounds, industry sources said on Friday.

One of the sources said bids could approach 100 million pounds,
adding, "It should happen in early autumn -- around late August or
early September."

Another source said on Thursday that Henderson had appointed KPMG as
advisers for a sale of the train operator, so that its project manager
division, John Laing, can focus on its core infrastructure activities.
This source later said Chiltern could be worth around 80 million
pounds.

snipped

If that is the case then the link with Renaissance Trains (WSMR) will
need to be sorted. Any price Renaissance Trains joining in the
bidding? or even Virgin to replace the lost XC franchise?

Hobdenious