Allianz, partners to make UK fast-rail bid-sources

By Greg Roumeliotis and Quentin Webb

AMSTERDAM/LONDON, Oct 29 (BestGrowthStock) – German insurer Allianz
(ALVG.DE: ) has tapped Britain’s largest private pension fund and
one that invests the pensions of Canada’s Mounties police to
make a joint bid for Britain’s sole high-speed railway, sources
said.

Allianz has formed a consortium with BT (BT.L: ) Pension
Scheme and Canada’s Public Sector Pension Investment Board
(PSP), which manages civil-service pensions, to submit a bid for
High Speed 1, two sources familiar with the matter said.

High Speed 1, a 186-mph (300km per hour) route from London
to the Channel Tunnel, is being sold in a 2 billion pound ($3.18
billion) auction.

An Allianz spokesman declined to comment. A PSP spokesman
did not immediately respond to an emailed request for comment
outside Montreal business hours. A spokeswoman for Hermes,
manager of BT’s pension fund, had no immediate comment.

A spokesman for London and Continental Railways (LCR), High
Speed 1’s parent company, confirmed bids were due on Friday but
declined to comment further.

Market sources say Britain could attract offers worth some 2
billion pounds for HS1, in what would be the first privatisation
since a Conservative-Liberal Democrat coalition took power in
May, pledging to slash a record peacetime budget deficit.

($1=.6281 Pound)

(Reporting by Greg Roumeliotis and Quentin Webb; editing by
David Hulmes)

Allianz, partners to make UK fast-rail bid-sources