Financial Adviser Tender – Sale of UK Eurostar Stake
The appointment of the financial advisers relates to financial advice on the potential sale of the UK shareholding in Eurostar International Limited.
United Kingdom-Hastings: Financial consultancy services
Section I: Contracting authority
I.1)Name, addresses and contact point(s)
Department for Transport
Group Procurement, Zone D/06 Ashdown House, Sedlescombe Road North
For the attention of: Vince Eyre
TN37 7GA Hastings
Telephone: +44 2079448423
Fax: +44 2079448440
General address of the contracting authority: www.dft.gov.uk
Further information can be obtained from: The above mentioned contact point(s)
Specifications and additional documents (including documents for competitive dialogue and a dynamic purchasing system) can be obtained from: The above mentioned contact point(s)
Tenders or requests to participate must be sent to: The above mentioned contact point(s)
I.2)Type of the contracting authority
Ministry or any other national or federal authority, including their regional or local sub-divisions
I.4)Contract award on behalf of other contracting authorities
The contracting authority is purchasing on behalf of other contracting authorities: no
Section II: Object of the contract
II.1.1)Title attributed to the contract by the contracting authority:
Financial Adviser – Sale of UK Eurostar Stake.
II.1.2)Type of contract and location of works, place of delivery or of performance
Service category No 6: Financial services a) Insurances services b) Banking and investment services
NUTS code UKI
II.1.3)Information about a public contract, a framework agreement or a dynamic purchasing system (DPS)
The notice involves a public contract
II.1.4)Information on framework agreement
II.1.5)Short description of the contract or purchase(s)
Financial consultancy services. The appointment of the financial advisers relates to financial advice on the potential sale of the UK shareholding in Eurostar International Limited.
II.1.6)Common procurement vocabulary (CPV)
II.1.7)Information about Government Procurement Agreement (GPA)
The contract is covered by the Government Procurement Agreement (GPA): yes
This contract is divided into lots: no
II.1.9)Information about variants
Variants will be accepted: no
II.2)Quantity or scope of the contract
II.2.1)Total quantity or scope:
The appointed financial advisers will be employed to provide financial advice on the potential sale of the UK shareholding in Eurostar International Limited. The advice relates to an assessment of the feasibility of a sale of the UK Government’s shareholding in Eurostar. Subject to a decision being made to proceed with a sale of the UK shareholding in Eurostar, the financial adviser will be responsible for managing and executing a sale process which delivers the UK Government’s overall objectives, including value for money for the UK taxpayer.
This appointment is expected to commence in January 2014 and the Department has an option to terminate the contract following Phase 1 if the decision is made to not proceed with a sale process. The appointment will be announced in January 2014 and it is the successful bidder’s responsibility to ensure that it is able to support the Department for Transport with the full scope of its engagement by the start of February 2014.
The appointed firm will be expected to work with the client team consisting of DfT’s Corporate Finance Directorate, Shareholder Executive as well as legal advisers.
The estimated value of the contract is up to GBP 75k for phase 1 and, subject to the decision on whether to proceed with the sale the estimated value for work on the sale will be calculated as a % of the sale value. The estimated value of the contract for the sale phase only is between GBP 2m and GBP 5m.
Estimated value excluding VAT:
Range: between 75 000 and 5 000 000 GBP
II.2.2)Information about options
II.2.3)Information about renewals
This contract is subject to renewal: no
II.3)Duration of the contract or time limit for completion
Duration in months: 24 (from the award of the contract)
Section III: Legal, economic, financial and technical information
III.1)Conditions relating to the contract
III.1.1)Deposits and guarantees required:
Applicants invited to tender will be advised.
III.1.2)Main financing conditions and payment arrangements and/or reference to the relevant provisions governing them:
Tenders are to be priced in Sterling and payment will only be made in GBP.
III.1.3)Legal form to be taken by the group of economic operators to whom the contract is to be awarded:
The group will be required to nominate a lead partner with whom the Authority can contract, or form themselves into a single legal entity before the contract is awarded.
III.1.4)Other particular conditions
The performance of the contract is subject to particular conditions: no
III.2)Conditions for participation
III.2.1)Personal situation of economic operators, including requirements relating to enrolment on professional or trade registers
Information and formalities necessary for evaluating if the requirements are met: The Authority will apply all the offences listed in Article 45(1) of Directive 2004/18/EC (implemented as Regulation 23(1) of the Public Contract Regulations (PCR) 2006 in the UK) and all of the professional misconducts listed at Article 45(2) of Directive 2004/18/EC (see also Regulation 23(2) in the PCR 2006) to the decision of whether a Candidate is eligible to be invited to tender.
A full list of the Regulation 23(1) and 23(2) criteria are at http://www.delta-esourcing.com/delta/project/reasonsForExclusion.html#pcr
Candidates will be required to answer these questions as part of the qualification process. For candidates who are registered overseas, you will need to declare if you have any offences/misconduct under your own countries laws, where these laws are equivalent to the Regulation 23 lists.
Candidates who have been convicted of any of the offences under Article 45(1) are ineligible and will not be selected to bid, unless there are overriding requirements in the general interest for doing so.
Candidates who are guilty of any of the offences, circumstances or misconduct under Article 45(2) may be excluded from being selected to bid at the discretion of the Authority.
III.2.2)Economic and financial ability
Information and formalities necessary for evaluating if the requirements are met:
Applicants are asked to provide evidence of their relevant experience as part of the Pre Qualification Questionnaire (PQQ) evaluation. This is detailed in the PQQ response which can be obtained electronically from the Contracting Authority. The procurement contact details are given in Section I of the contract notice.
Minimum level(s) of standards possibly required:
III.2.4)Information about reserved contracts
III.3)Conditions specific to services contracts
III.3.1)Information about a particular profession
Execution of the service is reserved to a particular profession: no
III.3.2)Staff responsible for the execution of the service
Legal persons should indicate the names and professional qualifications of the staff responsible for the execution of the service: no
Section IV: Procedure
IV.1)Type of procedure
IV.1.1)Type of procedure
Justification for the choice of accelerated procedure: This project has an exemption under regulation 6(2)(h) of the Public Contracts Regulations 2006 Act to procure financial advisors. However, we have voluntarily opted to follow an accelerated restricted procedure.
IV.1.2)Limitations on the number of operators who will be invited to tender or to participate
Envisaged minimum number 5: and maximum number 12
Objective criteria for choosing the limited number of candidates: The Authority will select a minimum of 5 and a maximum of 12 qualified applicants to take part in the invitation to tender stage of the procurement exercise.
IV.1.3)Reduction of the number of operators during the negotiation or dialogue
IV.2.2)Information about electronic auction
IV.3.1)File reference number attributed by the contracting authority:
IV.3.2)Previous publication(s) concerning the same contract
IV.3.3)Conditions for obtaining specifications and additional documents or descriptive document
IV.3.4)Time limit for receipt of tenders or requests to participate
23.12.2013 – 17:00
IV.3.5)Date of dispatch of invitations to tender or to participate to selected candidates
IV.3.6)Language(s) in which tenders or requests to participate may be drawn up
IV.3.7)Minimum time frame during which the tenderer must maintain the tender
IV.3.8)Conditions for opening of tenders
Section VI: Complementary information
VI.1)Information about recurrence
This is a recurrent procurement: no
VI.2)Information about European Union funds
The contract is related to a project and/or programme financed by European Union funds: no
VI.4)Procedures for appeal
VI.4.1)Body responsible for appeal procedures
Department for Transport
TN37 7GA Hastings
Telephone: +44 02079448423
Internet address: dft.gov.uk
VI.4.2)Lodging of appeals
Precise information on deadline(s) for lodging appeals: The Department for Transport will incorporate a minimum 10 calendar day standstill period at the point information on the award of the contract is communicated to tenderers. This period allows unsuccessful tenderers to seek further debriefing from the contracting authority before the contract is entered into. Applicants have 2 working days from the notification of the award decision to request additional debriefing and that information has to be provided a minimum of 3 working days before the expiry of the standstill period. In the first instance such additional information should be required from the address provided in part 1.1. Following that if the parties still cannot resolve the matter then it should be escalated to the Deputy Director of Procurement, Great Minster House, 76 Marsham Street, London SW1P 4DR. If an appeal regarding the award of a contract has not been successfully resolved the Public Contracts Regulations 2006 (SI 2006 No 5) provide for aggrieved parties who have been harmed or are at risk of harm by a breach of the rules to take action in the High Court (England, Wales and Northern Ireland).
VI.4.3)Service from which information about the lodging of appeals may be obtained
VI.5)Date of dispatch of this notice:11.12.2013