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Travers Smith advises management on the sale of Eversholt Rail Group


Travers Smith LLP is advising management on the sale of Eversholt Rail Group, one of the three leading rail rolling stock companies in the UK, to CK Investments, a company jointly owned by Cheung Kong Infrastructure and Cheung Kong (Holdings).

Eversholt Rail is majority owned by a consortium of Morgan Stanley Infrastructure Partners, Star Capital Partners and 3i Infrastructure.  All shareholders in Eversholt Rail Group are selling their entire interest in Eversholt Rail to the purchaser under the transaction.

The enterprise value of the transaction is approximately £2.5bn. Completion of the transaction remains condition upon receiving clearance from the European Commission under the EU Merger Regulation and it is anticipated that the transaction will close in March 2015.

The Travers Smith team is led by corporate partner and head of private equity Paul Dolman, assisted by senior counsel Moushumi Sharmacharja, and tax partner Kathleen Russ, assisted by tax associate Richard Wild.

Other advisers on the transaction include Freshfields, acting for the institutional sellers, whose team is led by corporate partner Richard Thexton, and Allen & Overy acting for the purchaser.

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