DLA and Field Fisher full steam ahead on Deutsche Bahn's UK rail group purchase
Field Fisher Waterhouse and DLA Piper have won lead roles advising on German train operator Deutsche Bahn's acquisition of UK railway group Laing Rail. The acquisition, which marks Deutsche Bahn's first foray into the UK passenger market, took place after a competitive auction process run by investment manager Henderson Equity Partners, which bought the John Laing group in 2006.Field Fisher took on its first role for Deutsche Bahn after being instructed last year through an informal selection process. The City law firm's team was led by corporate partners Nicholas Thompsell and Nigel Taylor. DLA Piper was instructed by Henderson Equity Partners and John Laing to advise on the auction.
February 06, 2008 at 10:34 PM
2 minute read
Field Fisher Waterhouse and DLA Piper have won lead roles advising on German train operator Deutsche Bahn's acquisition of UK railway group Laing Rail.
The acquisition, which marks Deutsche Bahn's first foray into the UK passenger market, took place after a competitive auction process run by investment manager Henderson Equity Partners, which bought the John Laing group in 2006.
Field Fisher took on its first role for Deutsche Bahn after being instructed last year through an informal selection process. The City law firm's team was led by corporate partners Nicholas Thompsell and Nigel Taylor. DLA Piper was instructed by Henderson Equity Partners and John Laing to advise on the auction.
Thompsell said: "We are delighted to advise Deutsche Bahn on this strategically important purchase. It is unusual to have a railway company as the subject of a private deal like this and to be at the forefront of it is great. We hope to work with Deutsche Bahn again in the future."
The acquisition, which is for an undisclosed amount but has been estimated at €170m (£126m), was signed last month (18 January) and is set to close within the coming weeks. It means Deutsche Bahn will take control of the Chiltern Railways franchise owned by Laing. Chiltern operates trains from London Marylebone to Aylesbury, High Wycombe and the Midlands. It has one of the UK's longest-running rail franchises, with a 20-year contract awarded by the Government in 2000.
In addition to the Chiltern franchise, Laing Rail also includes a 50% stake in the new London Overground and a 50% interest in new rail operator Wrexham, Shropshire & Marylebone Railway.
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