PINSENT MASONS HELPS SURREY COUNTY COUNCIL CLOSE STREET LIGHTING PFI

International law firm Pinsent Masons has helped Surrey County Council to close a PFI deal to kick off a £83.7 million programme to replace and maintain all street lighting in the county of Surrey. The firm has advised Surrey County Council on all aspects of the project, including the provision of procurement advice, advice on contractual documentation, pensions, employment, tax and banking.

[UKPRwire, Tue Dec 01 2009] International law firm Pinsent Masons has helped Surrey County Council to close a PFI deal to kick off a £83.7 million programme to replace and maintain all street lighting in the county of Surrey. The firm has advised Surrey County Council on all aspects of the project, including the provision of procurement advice, advice on contractual documentation, pensions, employment, tax and banking.

Pinsent Masons has been working with Surrey County Council on the deal since January 2005 following a tender process, and has unrivalled experience on street lighting PFI projects. The firm has advised on the majority of the PFI street lighting schemes to close in the UK and is working on a further five street lighting deals that are due to close in the coming months.

Patrick Twist is lead partner on the deal, and has been assisted by Ollie Mangiapane, Greg Jones and Neil Tindall (projects), Pippa Read and Liam Fitzgerald (pensions), Harjit Bhandal and Pam Sidhu (employment), Liz Morgan (tax), Amy Satchwell and Graeme Walton (banking) and James Bryan on procurement. The project also benefited from Pinsent Masons’ nationwide network of offices.

Skanska and John Laing (through the Skanska Laing consortium) are each investing £4.6 million and Skanska will receive a construction contract worth £83.7 million as well as an operation and maintenance contract valued at around £1.5 million per annum over a 25 year period. Senior debt has been provided by Barclays and Lloyds.

Surrey County Council’s financial advisers are PWC and its technical advisers are Eclipse Partnership. Surrey County Council’s own internal lawyers also played a significant part in the deal.

Lead partner Patrick Twist commented: “This project will affect over a million Surrey residents and will have tangible benefits in terms of reducing street crime and promoting economic activity. Pinsent Masons’ unmatched expertise and experience in this sector has ensured that the deal has run smoothly.”