Freshfields and Pinsents secure major roles on $3bn South African rail project
Legal Week reports
October 25, 2006 at 08:03 PM
2 minute read
Freshfields Bruckhaus Deringer has secured a leading role advising the bank lenders on South Africa's $3.3bn (£1.8bn) funded Gautrain rail link project, which is set to close later this year.
The deal is the second-largest public private part-nership (PPP) rail deal in the world to date after the London Underground PPP, which Freshfields also advised on.
Freshfields advised Standard Bank of South Africa and Rand Merchant Bank, the lenders to Bombela – the consortium that won the bid.
London projects partner Bobby Stewart led the team assisted by associates Marc Fevre and Alistair Curzon. South African firm Bowman Gilfillan advised the lenders on local issues.
The Freshfields team was instructed on the deal in 2003 after a competitive pitch.
Stewart advised on South Africa's first PPP – the Maputo Corridor toll road in 1998.
Pinsent Masons, led by projects partner Chris Kelly, advised the Gauteng Provincial Government. South African counsel Ledwaba Mazwai handled local issues.
South Af rican fir m Webber Wentzel Bowens advised Bombela, a consortium comprising Canadian infrastructure group Bombardier, French civil contractor Bouygues Travaux Publics, South African civil contractor Murray & Roberts and local black empowerment body the Strategic Partners Group.
The lending banks will issue senior and mezzanine debt facilities and a 'stand-by' facility should extra funding be required.
Stewart said: "This is a mammoth PPP that should have a hugely positive impact on the region."
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