On your commute into the office tomorrow morning, spare a thought for the law firms involved in getting your train off the starting blocks.
A number of firms have been bulking up their rolling stock expertise over the past year or so, with an eye to winning lucrative contracts work. Among the latest to capitalise on developments in the sector are Shoosmiths, Berwin Leighton Paisner (BLP) and Osborne Clarke – each of which had a hand in Stagecoach South West Trains’ new contract to buy 30 trains from manufacturer Siemens.
Shoosmiths advised longstanding client Stagecoach on the transaction, while BLP took the key role for operator Angel Trains. The deal marked a first for Osborne Clarke, which won its debut rail-related mandate from Siemens, having picked up a new spot on its panel in January 2013.
Meanwhile, the topic of longevity swaps might not immediately get the heart racing, but when they concern sums of €12bn it’s certainly worth sitting up and taking notice.
Last week, firms including Hogan Lovells, Slaughter and May and Baker & McKenzie cashed in on the latest deal of this kind – one of the largest ever to take place in Europe between the Netherlands’ Delta Lloyd Levensverzekering and Missouri-based Reinsurance Group of America.
Also on TheLawyer.com:
- Linklaters’ Stuart Bedford has been named its new London corporate head, replacing former head Sarah Wiggins after just four months in the role
- Hogan Lovells advised the London Metal Exchange on the establishment of LME Clear, which trades 80 per cent of the world’s non-ferrous metal contracts
- Jones Day raided Paul Hastings for former Clifford Chance capital markets partner Neil Hamilton