Deal signifies Italian operator's entry into UK market
Law firm Stephenson Harwood LLP has advised Italian operator Trenitalia on its entry into the UK rail franchising market, through the acquisition of the c2c (city to coast) passenger franchise, currently run by National Express, for £70 million.
c2c operates services between Fenchurch Street, London, and Shoeburyness, Essex, covering 26 stations in east London and south Essex.
"This is a strategically significant transaction for Trenitalia, and we were pleased to have been able to support the company's entry into the UK market,” said Tammy Samuel, rail partner, Stephenson Harwood. “The firm has significant experience advising clients in the rail sector; combining this with the expertise of colleagues from across the firm's practice areas – and partnering with Italian law firm Bonelli Erede Pappalardo LLP – allowed us to offer Trenitalia commercially-focused advice in the context of their industry."
Trenitalia, the passenger rail transportation arm of FS Italiane Group, is one of Europe's major railway operators. The acquisition is the first step in Trenitalia's plans to expand in the UK rail passenger market, in line with the internationalisation plans of the entire FS Italiane Group.
The Stephenson Harwood team was led by rail partner Tammy Samuel, who was supported by rail associate Zoe Harris, pensions partner Graham Wrightson and senior associate Naeem Noor, employment partner Anne Pritam and associates Hayley Reid and Natalie Edwards, real estate and environment senior associate Anita Kasseean, and corporate partner Andrew McLean and associate Rob Gray. They worked alongside Italian law firm Bonelli Erede Pappalardo LLP, whose team was led by banking and finance partner Massimiliano Danusso. Ashurst advised National Express Group.