LAWFUEL – The Law Firm Newswire – Denton Wilde Sapte’s top flight rail team has advised National Express Group (NEG) on its successful bid for the InterCity East Coast rail franchise (ICEC).
The franchise will commence on 9 December 2007 and will run until 31 March 2015 with the past 17 months being dependent on meeting set performance targets. The franchise is expected to generate total annual revenue of £600 million in its first full year and £1.4 billion (net present value) over the life of the franchise in premium payments to the DfT.
“ICEC is an important franchise and we are delighted to have supported NEG in winning it” commented Christopher McGee-Osborne, Head of Energy Transport & Infrastructure at the firm. “Our work for National Express drew on our market-leading rail franchising expertise, and cements our position as a top rail firm.”
This was Denton Wilde Sapte’s first mandate from NEG.
The Denton Wilde Sapte team was led by Christopher McGee-Osborne and Matthew Hanslip-Ward, who were assisted by rail team solicitors Martin Watt, Farzana Yousuf and Stuart Cottis.