Berwin Leighton Paisner (BLP), White & Case and Wragge & Co have acted on the London cycle hire scheme that launched today.
Around 6,000 cycles will be available for shared hire at 400 docking stations throughout the capital in a bid to generate 40,000 additional bike journeys a day in central London.
BLP partner Vanessa Barnett advised sponsor Barclays on the £25m scheme, which sees the bank’s branding on the bikes. She was assisted by associate Ceri Owen-Bradley. Barclays’ in-house legal team was led by Fiona Butler and Helen Burt.
Barnett commented: “This was an exciting deal for us to be involved in. We’ve helped Barclays to take its brand across London and also worked on an important project that offers Londoners a new, sustainable and environmentally friendly mode of public transport.”
White & Case advised long-standing client Serco, which was awarded a contract by Transport for London (TfL) last year to design, build and operate the scheme. It is understood that relationship partner Anthony Fine acted alongside partner Ashley Winton.
The Serco contract is valid for six years, with the possibility of extending it for a further two, and is worth £140m.
TfL will receive user revenue from the scheme. It was advised by Wragges partner David Lowe.