Global law firm K&L Gates has advised Rock Rail Holdings Limited and Infracapital on the conclusion of an operating lease agreement for 19 brand-new two-car battery-electric regional passenger trains from Stadler Deutschland GmbH, as well as the related comprehensive project agreements. Just a few months after the Free State of Thuringia—represented by the Ministry of Digital Affairs and Infrastructure (TMDI) and the State Office for Construction and Transport (TLBV)—awarded DB Regio AG the contract to operate the "Mittel-Thüringer Akku-Netz," the project documentation and long-term lease financing have been successfully completed.
The trains will be leased via Rock Rail MAN Limited, a leasing company, to DB Regio AG for the provision of the transport services commissioned by the Free State of Thuringia in the "Mittelt-Türinger Akku" network. Financing is provided through equity from Infracapital and Rock Rail and debt financing from various European infrastructure debt investors arranged by MEAG.
Rock Rail Holdings Limited is a UK-based independent developer, owner, asset manager, and lessor of rolling stock and other rail infrastructure established in 2014. Since 2016, the company has acquired over £3 billion worth of rail assets.
Infracapital is a leading European infrastructure investor, investing in, building and managing a diverse range of essential infrastructure to meet the changing needs of society and support long-term economic growth. The founder-led team of experienced specialists has worked with more than 60 companies around Europe and has raised and managed over €9 billion of client capital across seven funds. Infracapital is part of M&G Plc, an international savings and investments business, managing money for around 4.5 million retail customers and more than 900 institutional clients in 39 offices worldwide. Total assets under management are £345.9 billion (as of 31 December 2024).
The team that advised Rock Rail Holdings Limited and Infracapital was led by Frankfurt partner Dr. Frank Thomas and Munich counsel Anne Thümmel-Barz (both Banking & Asset Finance), supported by Munich senior associate Patrick Glück (Banking & Finance), Berlin partners Dr. Annette Mutschler-Siebert (Procurement Law) and Dr. Christian Hullmann (Public Law), and Berlin counsel Dr. Olaf Fiss (Intellectual Property).