Abbey National - Disposal of Porterbrook

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Slaughter and May advised Abbey National plc on the disposal of Porterbrook (which specialises in the leasing of railway rolling stock and associated equipment) to a consortium comprising Deutsche Bank, Lloyds TSB and Antin Infrastructure Partners, involving a simultaneous refinancing of the Porterbrook group’s debt.

A sale and purchase agreement was signed on 24 October, 2008 and, subject to regulatory approvals, completion is expected to take place before the end of 2008.

Mark Bennett (partner), Robert Chaplin (partner), Ben Walker (associate), Emre Ozer (associate), Georgie Fast (associate), Matthew Smith (associate), Beatrice Lo (associate), Phillip Burton (associate); Tax: Sara Luder (partner), Michael Lane (associate); Competition: Isabel Taylor (partner), Laura Webb (associate); Financing: Marc Hutchinson (partner), David Bicknell (partner), Anna Lawry (associate), Shanna Tavoussi (associate), Hugh Phillips (associate), Jocelynn Liu (associate); Pensions: Roland Doughty (partner)