Field Fisher Waterhouse advises Europe’s largest train operator on its expansion into the UK passenger rail market
28 January 2008
Field Fisher Waterhouse LLP has advised Deutsche
Bahn AG, Europe's largest train operator, on its acquisition of
Laing Rail Limited and associated rail operations from John Laing.
The deal marks the culmination of an auction process run by
Henderson Equity Partners, which acquired publicly listed John
Laing in December 2006.
Laing Rail includes the Chiltern Rail franchise,
which operates services out of Marylebone Station, a 50% interest
in the new London Overground and a 50% interest in Wrexham,
Shropshire and Marylebone Railway, a new open access operator which
is due to start operating services in the spring between
London and Wrexham. The deal is conditional on formal consents from
the Department for Transport and Rail for London.
The Field Fisher Waterhouse team acting on this
deal was led by corporate partners Nicholas
Thompsell and Nigel Taylor, who were
assisted by pensions partner David
Gallagher, corporate solicitor Charu Babel and other members of
the firm’s Rail Group.
The sale of a UK railway group is an extremely
rare event and this deal demonstrates the strength of the firm’s
cross-practice Rail Group which advises a
range of operators and other participants in the industry on both
heavy and light rail.
Nicholas Thompsell and
Nigel Taylor said: “We are delighted
that we have advised Deutsche Bahn on this strategically important
purchase and would like to welcome Deutsche Bahn to the UK
passenger rail market.”
Jonathan Richards and Andrew Herring of DLA Piper
LLP advised John Laing.
For further press information please
contact:
Louise Eckersley, PR Manager,
Field Fisher Waterhouse LLP on 020 7861 4120
Scarlett Yianni, PR Assistant,
Field Fisher Waterhouse LLP on 020 7861 4795