Successful offering of agreement to divest rail leasing business by one of Japan's leading financial institutions
The international law firm Milbank, Tweed, Hadley & McCloy advised BTMU Capital Corporation, a subsidiary of Mitsubishi UFJ Financial Group, in its agreement with Pamplona Capital Management LLP to divest all of its ownership interest in Beacon Rail Leasing, a UK locomotive and rolling stock leasing company. Beacon Rail is headquartered in London and has a portfolio of locomotives and freight and passenger wagons on lease in the UK and throughout Europe.
Milbank partner John Franchini led a team spanning three Milbank offices (New York, Tokyo and London) advising BTMU. The New York team included tax partner Russell Kestenbaum and associate Andrew Everett. In Tokyo, the team included partner Aled Davies and senior associate Timothy Mackey, who worked directly with the BTMU team in Tokyo. London partner Stuart Harray, tax associate Matthew Mortimer and anti-trust associate Satyen Dhana also provided advice for the transaction.
Mr. Franchini commented, “We were very happy to support BTMU through our Tokyo, New York and London offices on this important transaction, and to continue to develop the strong relationship we have with the bank on its strategic M&A transactions. The deal, and the input of the Tokyo team in particular, once again highlights the strength Milbank has in bringing together numerous offices to provide seamless advice to our global clients, and builds on our previous large scale M&A work for Japanese financial institutions, such as our role in the purchase by SMBC of the RBS aviation leasing unit in early 2012.”
Milbank has also advised BTMU in its role as lender on numerous financing transactions.
About Milbank
Milbank, Tweed, Hadley & McCloy is a leading international law firm that has been providing innovative legal solutions to clients throughout the world for more than 145 years. Milbank is headquartered in New York and has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, São Paulo, Singapore, Tokyo and Washington, DC.
The firm’s lawyers provide a full range of legal services to the world’s leading commercial, financial and industrial enterprises, as well as to institutions, individuals and governments. Milbank’s lawyers meet the needs of its clients by offering a highly integrated and collaborative range of services across key practice groups throughout its global network. Milbank’s integrated practice is underpinned by its attorneys’ acknowledged technical excellence, sectorial expertise and a strong tradition of innovation and client service.
