PARLIAMENTARY WRITTEN QUESTION
East Coast (1 December 2014)
Question Asked
To ask the Secretary of State for Transport, how much Inter City Railways Ltd will pay to acquire Directly Operated Railway's share in East Coast Main Line Company Ltd.
Asked by:
Lilian Greenwood (Labour)
Asked by:
Lilian Greenwood (Labour)
Answer
The sale of East Coast Mainline Limited (ECML) to Inter City Railways Ltd (ICRL) is part of the wider franchise deal that was announced 27 November. The sale is contingent on the new franchise agreement commencing 1 March 2015 at which point ICRL will pay £11 million to Directly Operated Railways (DOR) for the share in ECML. Inter City Railways Ltd will also be required to repay any money outstanding under a working capital facility that DOR has with its subsidiary company 1 March 2015.
Answered by:
Claire Perry (Conservative)
4 December 2014
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