London—Dentons has advised CAF on new contracts for the supply of two fleets of rolling stock to First TransPennine Express Limited (FTPEL) and related spares supply and maintenance services. The contracts include the supply of 66 passenger cars to be financed by Beacon Rail Finance (Europe) Limited, and the supply of 12 five-car electric multiple units that will be financed by Eversholt Rail Group Limited. Both sets of rolling stock will operate on the TransPennine Express franchise that runs regional passenger services between the major cities of Northern England and also Scotland. Under the contracts CAF has also committed to provide technical support services and spares management for both train platforms. The contracts are worth around €310 million.

The new contracts follow agreements that were signed by CAF in January 2016 with Arriva Rail North Limited and the Eversholt Rail Group Limited for the manufacture of fleets of 43 electric trains and 55 diesel trains to run in the North of England.

Martin Watt, who led the Dentons team on the latest deals, said, "We are delighted to have advised CAF on these significant deals which see CAF consolidate its position as one of the leading manufacturers of trains for the UK rail industry. These new contracts support the economy of the Northern Powerhouse and represent a further milestone in CAF's progress."

In addition to Martin Watt, the Dentons team advising on the deal included partner Matthew Hanslip Ward, senior associates Selena Strudwick and Douglas Johnston, and associates Jonathan Smith, Rhiannon Elias, and Keir Pimblett.

Dentons has a market-leading rail practice, which has been involved in the domestic and international transport sector for over 20 years. The Firm has advised on some of the most significant projects and transactions in the market, and has a strong track record of helping clients gain and consolidate market entry.