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Eversheds advises UK Government on €600 million Arriva rolling stock deal

  • Global
  • United Kingdom

    28-01-2016

    Law firm Eversheds has advised the Department for Transport in connection with €600 million rolling stock deal procured by Arriva Rail Northern Limited.

    To meet its contractual obligations owed to the Department for Transport (DfT) under the Northern rail franchise agreement signed in December 2015, the new franchisee Arriva Rail North Limited, has been contracted to acquire 280 new rail passenger vehicles, comprising both electric and diesel trains. The trains will be manufactured by Construcciones y Auxiliar de Ferrocarriles (CAF) and financed and leased to Arriva Rail North Limited by Eversholt Rail.

    The new, state-of-the-art trains will deliver upgraded rail services across the north of England consistent with the Government’s “Northern Powerhouse” agenda.

    As part of its role in advising DfT on the letting of both the Northern and Trans Pennine Express rail franchises, Eversheds advised on the issues relating to the completion of the acquisition of the new trains.

    The Eversheds team was led by Agnes Koko working alongside Senior Associate William Spickett.

    Agnes Koko commented:

    “Rail services are an important part of the UK’s connectivity and growth and the new Northern franchise will facilitate major investment to further enhance these effects. As a specialist rail lawyer with a particular focus on the rolling stock market I am delighted to have played a role in this important transaction.”

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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