Dibb Lupton Alsop communications and technology partner Danelle Dinsdale (pictured right) led the team acting for the Transys consortium which, in a £1bn PFI contract, will update and operate London Transport's ticketing services.
Under the deal, London Transport will pay Transys (a consortium comprising EDS, Cubic Corporation, ICL and WS Atkins) £1bn to run the operation over the next 17 years and in return Transys will invest £150m in new ticketing equipment and introducing smart contactless cards, which can be used on both the capital's bus and Tube networks.
Dinsdale says: “The parties have been negotiating for over two years and the unique nature of this highly complex project required us to find a number of innovative solutions, both practical and commercial.
“As can be expected in a 17-year PFI project, the inter-party relationships and their respective requirements added an extra layer of complexity to this ground-breaking deal.”
Fiona Hobbs of Linklaters headed the team which acted for the lending bank, the Bank of America International, with Richard Phillips and Perry Noble of Freshfields acting for London Transport. Gavin Teague of Clifford Chance also acted for Transys on the finance aspects of the deal.