Hogan Lovells advises on AXA InterCity Express Programme acquisition

Hogan Lovells has advised AXA Investment Managers on their c. £230 million acquisition of John Laing's 15% stake in Agility Trains West. Subject to anti-trust approval and senior lender consents, the deal is expected to complete later this year.

As part of the InterCity Express Programme (IEP) Phase 1, Agility Train West will finance, own, maintain and make available to the Great Western main line train operator a 57 strong fleet of InterCity Express Trains. The trains will be built and maintained through a sub-contract by Hitachi Rail Europe.  

The Hogan Lovells team advising AXA was led by London Infrastructure and Energy partner Philip Brown, with counsel Florian Agnel and associate Ben Fleet.

Commenting, Philip said:

"This is a great outcome for AXA Investment Managers.  We are delighted to have assisted the infrastructure equity investment team lead by Mark Gilligan and deal lead Jeff Woodard make their first United Kingdom infrastructure equity investment."

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