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Clifford Chance advises Mehler Systems on Craig International Ballistics acquisition

Thu, 24 Sep 2026 10:09:00 GMT

CIB is a leading supplier of ballistic protection to the Australian Defence Force and Police Forces, including ballistic protection panels, armoured vehicles, structural armour, tactical shields and body armour.

Mark Currell, Managing Partner, Australia said: “This transaction reflects the increasing role of private equity in the Defence sector and demonstrates the strength and depth of Clifford Chance’s capabilities in both Private Equity and Defence and our ability to bring together the right people across our global network, working seamlessly across borders and disciplines to deliver for our clients.

Having advised Deutsche Private Equity on its acquisition of a majority interest in Mehler Systems in 2020, it is particularly pleasing to now be working with Mehler Systems as it takes this next step in its expansion. This marks an important stage in the company’s growth and reflects the strength of the platform.”

Mark Currell, Managing Partner, Australia, and senior associate Liam Higgins led the multijurisdictional deal team, with support from Nicole Englisch, Managing Partner, Munich.

The core deal team included associates Kingsley Duru and Michelle Ma, and law graduates Jacob Bible and Muskan Jain.

Partner Clancy King and senior associate Paul Bonjour advised on employment matters while Partner Elizabeth Richmond and senior associate Sam Frouhar advised on foreign investment regulatory matters.

Media contact: Danielle Shaw

Clifford Chance drives global private capital growth with leveraged finance partner hires

Wed, 23 Sep 2026 10:44:37 GMT

Taner is one of the market’s most experienced leveraged and infrastructure finance lawyers. He advises private equity houses on a broad range of financing transactions, including leveraged and infrastructure finance buyouts and sales, public takeovers, mergers, joint ventures, IPOs, restructurings and refinancings. He also advises portfolio companies on a wide range of financing matters.

Taner will rejoin Clifford Chance as a partner based in London, from Paul Weiss where he was most recently Head of European Leveraged Finance.

Silvia advises sponsors, borrowers and financial institutions on leveraged and infrastructure finance transactions across European and international markets. Qualified in England and Wales, Spain and New York, she brings strong global client relationships, broad product experience and the ability to advise across jurisdictions.

Silvia will join Clifford Chance as a partner , having previously practised in the firm’s London officebefore joining Paul Weiss Her appointment adds to the firm’s European leveraged finance capabilities and the support available to clients on cross-border matters.

The appointments continue Clifford Chance’s investment in global private capital, focused on areas where clients need increasing depth and international reach.

Clifford Chance’s Private Capital partners work closely across practices and markets, bringing top-tier transactional and financing expertise together throughout the investment lifecycle. Clients can draw on joined-up advice across M&A, leveraged and infrastructure finance, private credit, equity, funds, portfolio matters, refinancings, restructurings and exits.

Emma Matebalavu, Global Head of Debt Finance, comments:
“Our strategy remains clear: we are growing our global Private Capital offering with exceptional lawyers who will work collaboratively to continue to deliver excellent service for our clients. Taner and Silvia are outstanding additions, bringing deep expertise, strong client relationships and practices that complement our own. We are delighted to welcome them back to Clifford Chance.

Taner Hassan comments:
“I know first-hand the calibre of Clifford Chance and, above all, its people. The firm has built an exceptional global Private Capital offering, bringing together deep M&A, transactional and financing expertise, which combined with unrivalled international reach, delivers outstanding results for clients. I’m delighted to be rejoining the firm and very much look forward to contributing to its continued success.”

Silvia Menendez comments:
“I am excited to be returning to Clifford Chance. As Private Capital becomes increasingly global and complex, clients need advisers who can understand the full picture while navigating the detail of transactions. I am looking forward to supporting clients throughout the investment lifecycle, from origination and financing through to exit, helping to consistently deliver successful outcomes.”

Following the appointments of Taner and Silvia, Clifford Chance will have welcomed nine global private capital lateral partners so far in 2026. The senior hires span New York, London, Paris, Madrid, Düsseldorf and Luxembourg and include Michal Netanyahu, Charles B. Tanenbaum, Christopher Phillips-Hart, Matthias Kerbusch, Patrick Tardivy, Paul Loisel and most recently Thyl Hassler.

Press contact: Sonia Malhotra-Denny

Clifford Chance advises China Three Gorges on RMB-denominated financing from New Development Bank for Serra da Palmeira wind project in Brazil

Wed, 23 Sep 2026 09:45:00 GMT

NDB is a multilateral development bank headquartered in Shanghai. It is established by Brazil, Russia, India, China and South Africa to mobilise resources for infrastructure and sustainable development projects in emerging markets and developing countries.

The financing supports CTG's continued investment in renewable energy in Brazil and represents a further example of the use of RMB-denominated financing for overseas renewable energy projects.

Partner Vicky Ma commented: "We are delighted to have supported CTG on this important cross-border financing. The transaction brings together RMB-denominated funding, Chinese investment and multilateral financing to support renewable energy development in Brazil. It highlights the growing role of RMB financing as a source of capital for international energy and infrastructure investments."

The Clifford Chance team was led by Vicky with support from senior advisor Yi Wang (Luxembourg) and associate Patrick Lam (Hong Kong). Partner Patrick Jackson (São Paulo) also assisted on the transaction.

Press contact: Madhu Mirpuri

Clifford Chance advises banking syndicate on RWE's U.S. dollar green bond

Wed, 23 Sep 2026 08:03:00 GMT

In the Rule 144A U.S. offering, RWE successfully placed its green U.S. dollar bond with a total volume of U.S.$1.5 billion. The bond was issued in two tranches of U.S.$750 million with 5-year tenor and U.S.$750 million with 10-year tenor, respectively. This is RWE’s third green bond placement outside Europe.

The Clifford Chance team advised a syndicate of banks comprising BofA Securities, Inc., BBVA Securities Inc., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Intesa Sanpaolo IMI Securities Corp., Mizuho Securities USA LLC, MUFG Securities Americas Inc., RBC Capital Markets, LLC and SMBC Nikko Securities America, Inc.

The proceeds of the bonds will be used to finance or refinance eligible green projects in accordance with RWE AG's Green Financing Framework, which covers investments in renewable energy generation and storage as well as hydrogen production and storage.

The cross-jurisdictional Clifford Chance team was led by capital markets partner George Hacket (Frankfurt). The core team comprised counsel Andrei Manea and senior associate Gordana Golubic-Huertas (all Frankfurt). Furthermore, partner Cristina Freudenberger and transaction lawyer Felicitas Fisher (all Frankfurt) advised on German law aspects of the offering. Advice was also provided on tax matters by partner Avrohom Gelber and associate Milica Pavlovic (both New York) as to US tax.

Press contact: Nadja Fersch

Clifford Chance advises Superior Energy Services on its agreement to acquire Welltec International

Tue, 22 Sep 2026 16:31:00 GMT

Welltec is a global provider of proprietary robotic, wireline-conveyed well intervention solutions and metal expandable packer (MEP) technologies for wellbore intervention and completions. It operates globally in more than 50 countries across major oil and gas producing regions and serves a broad base of international and national energy company customers.

Superior serves the drilling, completion, and production-related needs of oil and gas companies through a diversified portfolio of specialized oilfield services and rental equipment used throughout the lifecycle of oil and gas wells. In addition to operations in North America, both on land and offshore, Superior operates in over 55 countries internationally.

Houston partner Jonathan Bobinger commented, "We are delighted, together with counsel across the globe and with Evercore, as financial advisor, to be supporting the exceptional Superior team on its agreement to acquire Welltec, an important step in Superior's ongoing strategy. Congratulations to the Superior and Welltec teams and all involved."

Bobinger led the global, multi-practice team, with support from partners Steven Fox (London) and David Sweeney (Houston), counsel Joshua Bernard (Houston), associates Austin Johnson, Shayan Junaid, Shaq Taylor, Ella Chen and Francisco da Silva and law clerk Mary Angela Ricotta. The transaction involved lawyers across global practice groups, including Corporate Transactions & Advisory, Private Equity, Capital Markets, Antitrust and Trade, Debt Finance, Structured Finance, Real Estate and Tax, Pensions, Employment and Incentives, in collaboration with local counsel throughout relevant jurisdictions.

Closing of the transaction remains subject to customary closing conditions, including receipt of applicable regulatory approvals.

Press Contact: Maria Arnone

Clifford Chance advises on US$100 million financing for River Plate football stadium in Argentina

Tue, 22 Sep 2026 16:31:00 GMT

The financing will be used to support the stadium's expansion (by increasing spectator capacity to 100,000–101,000, improving acoustics, and extending the facility's lifespan), finance the construction of a roof structure to improve the fan experience and dampen noise emissions for the surrounding neighborhood, and fund the expansion of the River Plate Institute school building and Casa River (the youth residence and development center).

"I feel truly privileged for the opportunity to support the expansion plans of one of the largest football clubs in Latin America," said partner Fabricio Longhin, who led the Clifford Chance team on this transaction. "This one is really close to my heart," he added.

The revenues generated by the stadium's expansion will be contractually linked to education, scholarships, women's sports, and community infrastructure, and River Plate will allocate at least 25% of those revenues to additional scholarships and the development of additional sports and social infrastructure.

The team was led by partner Fabricio Longhin, supported by associates Alejandro Leon, Douglas Mulliken and Genevieve McCarthy.

Clifford Chance advises the underwriters on Avolta AG's high-yield bond offering and concurrent tender offer

Tue, 22 Sep 2026 09:56:00 GMT

Avolta (previously known as Dufry) is a leading global travel experience player in the travel retail and F&B industry, with operations in 70 countries on six continents. Clifford Chance also advised on the issuance of Avolta's Senior Notes due 2027, 2031, 2032 and 2033.

The proceeds of the offering will be used to partially repay the remaining outstanding principal amount of its Senior Notes due 2027. Concurrently with this Offering, Avolta has successfully completed a Tender Offer to purchase up to EUR 350 million aggregate principal amount of such notes and expects to use the net proceeds of this Offering to purchase notes tendered in the Tender Offer. Any net proceeds not deployed in the Tender Offer are expected to be used to repay any Senior Notes due 2027 at maturity.

Clifford Chance's cross border team advising on the bond issuance and tender offer was led by London partner, Michael Dakin, Yash Ranade (senior associate) and Saherish Surani (associate). London partner Paul Deakins advised on English law matters on the tender offer.

Press contact: Chanelle Mutawe

Clifford Chance advises Titan Lithium on proposed A$330 million acquisition of Global Lithium Resources

Tue, 22 Sep 2026 05:39:00 GMT

The proposed transaction, which remains subject to shareholder and regulatory approvals, reflects increasing international investment in Australia's critical minerals sector and the important role Australian resources play in strengthening global critical minerals supply chains.The transaction also includes substantial project development finance from Titan Lithium that will enable Global Lithium Resources to continue developing the Manna lithium project, pending Titan Lithium's acquisition of the company.

The proposed acquisition complements Titan Lithium's development of a vertically integrated lithium strategy, combining ownership of high-quality lithium reserves with large-scale downstream processing.

Partner Liz Humphry said: "This proposed acquisition reflects growing UAE investment in Australia's critical minerals sector, and the important role cross-border capital can play in developing resilient and diversified global supply chains, consistent with government policy. This transaction provides Titan with important feedstock as it continues to develop one of the region's largest battery-grade lithium processing facilities."

Partners Liz Humphry and Mark Currell led on the deal, working with counsel Armin Fazely, and senior associate Anthony Yelavich.

Partner Mark Gillgren and counsel Isabella Bogunovich led the financing workstream.

They were supported by counsel Jackie Legett, senior associates Tash Tourabaly, associates Siena Casgrain, Amy Pham, Clinton Wang and law graduates Max Farinazzo, Quin Lin and Georgia Walker.

Specialist advice was provided by partners Naomi Griffin, Clancy King and Elizabeth Richmond, counsel Rebecca Davie and senior associates Angel Fu, Jordan Jeffcoat and Penelope McCann.

This transaction further reinforces Clifford Chance's leading role in the critical minerals sector, advising clients on investments, acquisitions, project development and strategic partnerships across the energy transition value chain.

It follows the firm's recent work advising global investment firm Oaktree Capital Management on the sale of its investment in ASX-listed resources company EQ Resources Limited to Wonongarra, an investment vehicle wholly owned by Australian businessman and Fortescue founder and executive chairman Dr Andrew Forrest.

Media contact: Danielle Shaw

Clifford Chance advises dealer manager on ONEOK's ~US$2 billion cash tender offer for multiple series of outstanding notes

Mon, 21 Sep 2026 18:34:00 GMT

The Clifford Chance team was led out of Houston by partners Trevor Lavelle and Om Pandya with support from associates Zoya Afridi (New York) and Sophia Navedo-Quinones (Houston). Partner Todd Lowther and associates Milica Pavlovic and Kade Moural provided Tax advice.

Press Contact: Maria Arnone

Clifford Chance advises Bi-PA on strategic agreement with Nichino Europe and sale of TEMAP® EMEA rights

Mon, 21 Sep 2026 13:57:00 GMT

TEMAP® is a patented bio-fungicide based on choline pelargonate that targets a broad range of important crop diseases. Developed by Bi-PA, TEMAP® has shown preventive, eradicative and early curative activity against a wide spectrum of fungal diseases.

The legal advice by Clifford Chance covered the core M&A mandate as well as comprehensive regulatory, IP and contractual support. In addition, in the run-up to and in preparation for the definite agreement, the Clifford Chance team also managed various arbitration and court proceedings for Bi-PA to clear the way for the transaction.

Bi-PA is headquartered in Londerzeel, Belgium, and focuses on the discovering, developing and advancing innovative crop protection solutions for sustainable agriculture. Since its founding in 1999, Bi-PA has developed scientific innovation into practical agricultural technologies through proprietary research, strategic collaborations and global development partnerships.

Nichino Europe, established in 2007, is a wholly owned subsidiary of Nihon Nohyaku Co., Ltd. based in Tokyo. It manages the development, registration and distribution of its parent company’s active ingredients for use in plant protection products through a network of partner customers across Europe and beyond.

The Clifford Chance team was led by partners Gunnar Sachs (Corporate/Healthcare) and Tobias Kamerling (Corporate/M&A) and comprised counsels Haruka Okihara (Corporate/Healthcare) and Nicolas Hohn-Hein (IP), senior associates Annabel Joschko and Kathrin Schroeder-Finckh (both Corporate/Healthcare), and associates Yannick Trauschold and Nebiyu Mahmud (both Corporate, all Düsseldorf). The core team also comprised partner Jan Conrady, senior counsel Stefan Lohn, senior associates Stephanie Brockers and Maximilian Loosen (all Disputes, Düsseldorf) as well as partner Dorothee Vermeiren (Disputes, Brussels).

From the firm's London office advised partner Alex Walker and senior associates Molly Margiotta and Andrew Quaile (all Corporate). Advice on Belgium law aspects was provided by counsel Nathan Tulkens (Disputes) and Stijn Van Walleghem, senior associate Inès Mahaux (both Tax), and associates Avril Miller (Corporate) and Philippe Grignard (Employment, all Brussels).

Press contact: Nadja Fersch

Clifford Chance continues Houston growth with addition of Debt Finance counsel Matt Snodgrass

Mon, 21 Sep 2026 13:44:00 GMT

Snodgrass counsels lenders, public and private borrowers, and private equity sponsors in complex lending and commercial financing transactions. His experience includes domestic and cross-border financing transactions, asset-based lending, syndicated loan transactions and other energy-related financing transactions, as well as representing clients in connection with debt capital markets transactions and distress situations.

Houston Office Managing Partner Alex Wilde said, "Matt's arrival marks another important step in the growth of our Houston office. His experience further strengthens our ability to support clients across complex energy and infrastructure financing transactions in the US and globally."

Snodgrass said, "I'm excited to join Clifford Chance at such an exciting time for the Houston office. The team's collaborative approach and ability to bring together lawyers across practices to support energy and infrastructure clients was a major draw for me."

Snodgrass's arrival marks the fifth senior addition to Clifford Chance's Houston office since May, reflecting the firm's continued expansion in the market. Together with recent additions Matt Jones and Carter Olson, he adds further depth to the firm's energy and infrastructure finance capabilities as it continues to expand its support for clients across financing, M&A, capital markets and restructuring matters.

With more than 450 attorneys across New York, Washington, DC, Houston and São Paulo, the firm combines deep local market knowledge with the reach of a fully integrated global partnership. The Americas team advises clients on complex US, Latin America and cross-border corporate, finance, regulatory, litigation, investigations and disputes matters across key sectors including energy and infrastructure, private capital and financial services, healthcare and life sciences, and technology.

Clifford Chance advises Volkswagen Group on US$3.05 billion bond issuance

Mon, 21 Sep 2026 09:43:00 GMT

In the Rule 144A U.S. offering, Volkswagen Group raised a total of US$3.05 billion structured through five tranches issued by Volkswagen Group of America Finance, LLC. The banking syndicate for this transaction comprised Morgan Stanley & Co. LLC, Barclays Capital Inc., Credit Agricole Securities (USA) Inc., MUFG Securities Americas Inc., Santander US Capital Markets LLC and U.S. Bancorp Investments, Inc. All bonds are guaranteed by Volkswagen AG.

Clifford Chance regularly advises Volkswagen on the issuance of high-volume bonds in the U.S., most recently in September 2025.

The cross-border Clifford Chance team comprised partner George Hacket, counsel Andrei Manea and senior associate Gordana Golubic-Huertas on U.S. Capital Markets matters as well as partner Cristina Freudenberger and transaction lawyer Felicitas Fischer on German law matters (all Capital Markets, Frankfurt), partner Paul Deakins (Capital Markets, London), partner Olaf Mertgen and Avrohom Gelber (both Tax, Frankfurt and New York).

Press contact: Nadja Fersch

Clifford Chance advises RNV Infrastructure on the sale of a BESS project to SANY International Industrial

Mon, 21 Sep 2026 08:00:00 GMT

Partner Nadia Badea said: “We are honoured to have completed another transaction alongside the Renovatio Group, a leader in the renewable energy sector, with which we share an extensive partnership. Every transaction in which we advise– whether it is an M&A transaction or financing – represents an important milestone in their business vision, and we are happy to have contributed to its advancement.”

Battery energy storage systems (BESS) have become a critical component of regional energy infrastructure and security, and this segment continues to attract investors and strategic capital. In this context, our Energy practice has intensified its activity, advising leading investors, developers and financiers on M&A transactions and BESS project development, optimisation contracts and major financings.”

Press contact: Anne Marie Nistoroiu

Clifford Chance advises The Executive Centre on US$585 million financing from Apollo

Fri, 18 Sep 2026 02:21:00 GMT

The financing is intended primarily to refinance existing debt and support TEC's future growth and expansion plans.

Lead partner Charlotte Leung said: "We are pleased to have advised The Executive Centre on this significant financing. The transaction demonstrates the continued evolution of capital solutions available to businesses across Asia Pacific and highlights the growing role of hybrid financing structures in supporting refinancing and growth objectives."

The Clifford Chance team was led by Debt Finance partner Charlotte Leung, with support from counsels, Chit Kwong and Alexander Sorgese, associates Sachin Kinger and Hong Yang See, and trainee solicitors Donald Tsang and Oliver Lai. The M&A aspects were led by partner Shimin Lee with support from partner Tom Lin, counsel Wesley Tan, associate Denzyl Ang and trainee solicitor Emily Stanton.

Media contact: Madhu Mirpuri

Clifford Chance advises on Redwood Trust's upsized US$205 million convertible senior notes offering

Thu, 17 Sep 2026 13:50:00 GMT

The Clifford Chance team was led by partners Andrew Epstein (New York) and Om Pandya (Houston) along with capital markets associates Paul Lakkis, Jed Tifft and Leah Rahmani (New York) and associate Sophia Navedo-Quinones (Houston). They were supported on tax matters by partner Michael Seaton and associates Allison Kelly and Maggie Shi (New York), and on derivatives matters by partner Andrew Des Rault and counsel Issac Lee.

Press contact: Maria Arnone

Clifford Chance advises EDF power solutions North America on financing for Utah Solar 1 project

Thu, 17 Sep 2026 13:10:00 GMT

The project is expected to generate approximately 766,000 MWh of clean energy annually.

The financing consisted of secured credit facilities provided by Crédit Agricole Corporate and Investment Bank, MUFG Bank, Ltd., National Bank of Canada, Société Générale and Standard Chartered Bank. The transaction also included a production tax credit transfer arrangement for production tax credits generated by the project.

Energy and Infrastructure partner Shellka Arora-Cox commented, “We are delighted to have supported EDF power solutions North America on the financing of Utah Solar 1. This transaction reflects the continued importance of sophisticated debt and tax credit monetization structures in accelerating renewable energy deployment and supporting the broader energy transition."

Arora-Cox led the multi-practice team, working closely with associate Joyce Moore (New York).

The wider team consisted of:

Tax: Partner Alex Leff and associate Elbert Belk (Houston)
Project Finance: Associates Henry Myers (New York) and Nicholas Johnson (Washington, DC) and law clerk Javier Melendez (Washington, DC)
Energy Regulatory: Partner Marcia Hook (Washington, DC)
Derivatives: Counsel Issac Lee and associate Sylvia Mueller (New York)
Environmental: Partner Ty'Meka Reeves-Sobers (Houston) and associate Kami McFarland (Washington, DC)
Financial crimes: Partner Megan Gordon and counsel Catherine Ennis and Jacqueline Landells (Washington, DC)
Funds: Partner Jefferey LeMaster and associate Dennis Morrisroe (New York)
ERISA: Partner Paul Koppel and associates Ivona Dimov and Ebony Williams (New York)

Press contact: Maria Arnone

Clifford Chance advises Volkswagen on dual tranche RMB3 billion Panda bond issue under its DFI Programme

Thu, 17 Sep 2026 13:00:00 GMT

The bond, which was underwritten by Bank of China Limited, CITIC Securities Company Limited, HSBC Bank (China) Company Limited and Industrial and Commercial Bank of China Limited, was sold to institutional investors. Tranche one amounted to RMB2 billion with a term of three years and a coupon of 1.720 per cent., while tranche two amounted to RMB1 billion, holding a coupon of 1.820 per cent. and which will be due in 2031.

Clifford Chance frequently advises corporate and financial institution issuers and bank syndicates in connection with national and international capital market transactions and has advised Volkswagen Group on the establishment and update of their DFI Programme as well as the first five Panda bond issuances.

The international Clifford Chance advisory team was led by partner Cristina Freudenberger and comprised transaction lawyer Felicitas Fischer (both Capital Markets, Frankfurt), as well as partner Olaf Mertgen and counsel Steffen Waadt (both Tax, Frankfurt), partner Jurgen van der Meer and associate Kris Soomers (both Capital Markets, Amsterdam), senior associate Robin Houtveen and associate Johan Anton Niesten (both Tax, Amsterdam) as well as partner Angela Chan, senior associate Michael Cheng and associate Xinyue Yang (all Capital Markets, Hong Kong).

Fangda Partners advised Volkswagen on PRC law. The team was led by Helen Zhao and included Howie Jiang and Ariel Fan.

Press contact: Nadja Fersch

Clifford Chance advises a subsidiary of leading international savings and investment business M&G on landmark sale and securitisation of £1bn+ Equity Release Mortgage portfolio

Thu, 17 Sep 2026 09:43:00 GMT

The transaction represents the largest public ERM securitisation completed in the UK to date and the first ERM securitisation in which the junior tranche was publicly marketed rather than privately placed, marking a significant development in the evolution of the UK ERM market.

Maggie Zhao, Global Head of Clifford Chance's Structured Finance practice, commented: "We are delighted to have advised our client on this landmark transaction. As the largest public UK ERM securitisation to date, it demonstrates the strength and continued development of the ERM market while highlighting continued investor interest in the asset class."

The cross-practice team was led by partner Maggie Zhao, supported by Anna-Lena Marx and Gyasi Vialva-Husbands, with partner Chris Davies advising on tax aspects and partner Matt Lyons advising on US law matters.

Press contact: Chanelle Mutawe

Clifford Chance advises Goldman Sachs International, J.P. Morgan and the joint bookrunners on the establishment of a €10 billion Euro Medium Term Note Programme for Mileway and the inaugural €1.5 billion dual-tranche issuance

Thu, 17 Sep 2026 07:37:00 GMT

Mileway, a Blackstone portfolio company, is the largest last mile real estate company in Europe, with a portfolio of assets across nine countries on the Continent. The business serves customers through a highly diversified, multi-tenant portfolio concentrated in supply-constrained urban logistics locations near key population centres and infrastructure hubs.

The transaction builds on Clifford Chance's strong record of supporting on bond market financing for European real estate issuers.

The cross-practice team was led by partner Kate Vyvyan, senior associates Jeffery Hung and John Thomson and associate Bailey James with support from partner Michael Dakin, senior associate Yash Ranade and trainee solicitor Yuqiao Feng. Counsel Maxime Budzin advised on Luxembourg tax aspects. Partner Avrohom Gelber advised on US tax aspects. Partners Jemma Dick and Cameron Dwyer advised on UK tax aspects, with support from associates Stefaniya Yakubova and Marco Montanaro. Partner Bruce Kahl, senior associate Andrew Whelan and trainee solicitor Seungmin Bang advised the Trustee and Agents on the transaction.

Press contact: Emma Cessford

Clifford Chance advises Rock Rail and Aberdeen Investments on landmark battery-electric train fleet for TransPennine Express

Mon, 14 Sep 2026 14:07:00 GMT

The investment is strategically important for both the North of England and the wider UK rail industry, supporting faster, more frequent, more efficient and lower-carbon rail connectivity, while helping to drive economic growth, job creation and business investment.

The investment will support the delivery of 29 new five-car trains as part of the £11 billion Transpennine Route Upgrade, one of the UK's largest rail modernisation programmes, covering Liverpool, Manchester, Manchester Airport, Leeds, Hull, York, Scarborough and Saltburn.

Clifford Chance's team was led by partner Paul Carrington and senior associate Reiss Guiness, with support from senior associates Emma Durrell and Olga Korshun, and associates Rory O'Driscoll, Ope Oreyemi and Lauren McGowan.

Press contact: Sonia Malhotra-Denny