Hitachi Rail’s £400 Million Project

DLA Piper has advised Hitachi Rail Limited on the GBP400 million contract to build a new fleet of intercity trains for Abellio as part of the East Midlands Railway franchise.

The East Midlands Railway franchise was recently awarded to major transport group, Abellio, by the Department for Transport and came into effect on Sunday 18 August 2019. Abellio now operates 5 franchises in the UK.

The new rolling stock comprises 33 five-carriage trains, to be operated in 10-carriage formations and begin operation in 2022.

The funding package for the new rolling stock is being led by Rock Rail with financing of the fleet through Rock Rail East Midlands plc and leased to Abellio for the life of the franchise. Debt is provided by a lender consortium made up of Aberdeen Standard Investments, Aviva, Scottish Widows and Sun Life.

The new state of the art intercity trains will start operating in 2022 and will serve the main cities and towns on the Midland Main Line including Sheffield, Chesterfield, Nottingham, Derby, Leicester and Lincoln as well as Kettering and London St Pancras.

The DLA Piper Finance and Projects (F&P) team comprised lawyers from the firm’s UK and Japanese offices, who provided full-service support to Hitachi on all aspects of finance, commercial and corporate law.

The team was led by F&P partners Colin Wilson (Picture) and Rob Smith. They were supported by partners Nacim Bounouara (F&P) and Martin Nelson-Jones (Corporate), legal director Sidrah Arif (F&P), senior associates Sarah Tindall (London, F&P), Liam Freeman (Corporate) and Jim McDonnell (Sheffield, Intellectual Property and Technology), and associates Grace Powell (F&P) and Sam Newman (F&P). Tokyo-based partners Kaoru Umino and Mitsuharu Kataoka also provided advice.

Involved fees earner: Sidrah Arif – DLA Piper; Nacim Bounouara – DLA Piper; Liam Freeman – DLA Piper; Mitsuharu Kataoka – DLA Piper; Jim McDonnell – DLA Piper; Martin Nelson-Jones – DLA Piper; Sam Newman – DLA Piper; Grace Powell – DLA Piper; Robert Smith – DLA Piper; Sarah Tindall – DLA Piper; Kaoru Umino – DLA Piper; Colin Wilson – DLA Piper;

Law Firms: DLA Piper;

Clients: Hitachi Rail Europe;