Ogier's Guernsey team advises Equitix on acquisition of HS1 rail link and the M25 orbital motorway network

Ogier has acted as Guernsey legal advisor to Equitix on the establishment of several different co-investment structures which, alongside Equitix Fund IV and other consortium members, acquired stakes in the HS1 high speed rail line and, separately, the M25 orbital motorway network.

The HS1 concession runs to 2040 and has an enterprise value of over £3 billion.  HS1 includes the iconic London St Pancras train station and consists of a 109 km high speed rail line connecting London to a high speed commuter service throughout Kent and to European cities via the Channel Tunnel.

The M25 stake acquired is approximately 220km of the M25, along with an additional 220km of connecting motorway and trunk roads, and includes more than 140,000 assets, 1,800 structures (including 750 bridges), five tunnels and a cable-stayed bridge at Dartford.  Connect Plus is responsible for the operation, maintenance and lifecycle works.

Bryon Rees (Partner) led the Ogier team with the assistance of Michelle Watson-Bunn (Senior Associate) and Caleb Holder (Associate), working with lead onshore counsel Ashurst LLP.