Freshfields Bruckhaus Deringer has advised a consortium including 3i Infrastructure and STAR Capital Partners on an agreement to sell the consortium’s entire interests in Eversholt Rail Group to CK Investments S.A R.L. CK Investments is jointly owned by Cheung Kong Infrastructure Holdings Limited and Cheung Kong Holdings Limited.

The transaction has an equity value of approximately £1.1 billion and an enterprise value of approximately £2.5 billion. It is anticipated that the transaction will close in March 2015.

Eversholt Rail is one of the three leading rail rolling stock leasing companies in the UK . It owns approximately 28% of the current UK passenger train fleet. Its 19 fleets, predominantly weighted towards electric trains, are leased to 11 train operating companies. Eversholt Rail also owns a fleet of freight locomotives.

Corporate partner Richard Thexton commented: ‘Following on from our role advising the selling consortium on the successful disposal of Porterbrook Rail in October 2014, this second deal in the sector in a short space of time clearly demonstrates our capabilities as the go-to firm for complex infrastructure M&A.’

Richard Thexton led the team alongside corporate partner Claire Wills, supported by corporate senior associate Alastair Lewis, associate Catriona Witcombe and trainee Niamh Hunt. Partner Helen Lethaby and senior associate May Smith provided tax advice with support from partners Alastair Chapman on antitrust, competition and trade issues and David Pollard on pensions issues. Partner Simon Weller advised on the Hong Kong Listing Rules aspects of the transaction and dispute resolution senior associate Phil Henderson advised on insurance matters.