Morgan Stanley's infrastructure fund, 3i's infrastructure fund and Star Capital are submitting a proposal for HSBC's train division, The Wall Street Journal reports. The consortium will make the offer in time for an April 14 deadline set for indicative offers.

The business, which nearly owns one-third of the U.K.'s rail rolling stock, is said to be valued at about 2 billion GDP. The disposal of the unit is part of the bank's efforts to raise cash by selling non-core assets.

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Posted by mopeng at April 14, 2010 12:45 AM