FFW advises Arriva on its £129 million disposal of vehicle rental business
07 February 2006
Field Fisher Waterhouse (FFW) has advised Arriva, the European
transport services group, on the disposal of its car and commercial
vehicle rental division, Arriva Vehicle Rental. The business
has been sold to the UK’s leader in commercial vehicle rental,
Northgate PLC in a deal worth approximately £129 million.
Arriva Vehicle Rental operates from 33 branches in England and
has a fleet of more than 11,000 vehicles. The disposal of the
business is part of Arriva’s strategy of being focused on the
passenger services market in the UK and mainland Europe. The
sale will allow Arriva to significantly strengthen its balance
sheet at a time when it is pursuing acquisition and franchise
opportunities that will strengthen its presence in bus, coach and
train services.
FFW corporate partner Nigel Taylor advised
Arriva, assisted by a team of partners and lawyers from across the
firm including Nicholas Thompsell (corporate);
Martin Barrett (property); David
Gallagher (pensions); and Nicholas Noble
and Nicholas Beecham (tax).
This is FFW’s first purely corporate deal for Arriva, having
previously advised this client on its train operations, including
its rail franchise deal for the Wales and borders area.
The firm is also currently advising Arriva on its bid for the
enlarged South Western trains franchise.
Nigel Taylor said, “FFW’s transport group has worked with Arriva
for a number of years. This is the first time we have acted
for Arriva on a purely corporate deal and we are delighted to have
advised on a strategic disposal that will allow Arriva to focus
more strongly on developing its passenger services business.”
Dickinson Dees advised Northgate Plc.
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