International law firm Addleshaw Goddard has advised Die Länderbahn, a subsidiary of NETINERA, on the conclusion of an operating lease agreement for a 41-strong fleet of new Siemens Mireo electric trains. Following a successful public procurement process, Die Länderbahn will operate several main lines on the Central German S-Bahn network in Leipzig for a period of 12 years starting in 2026. The trains will be acquired by Rock Rail and leased to Die Länderbahn. Financing is provided by equity from Infracapital and Rock Rail as well as debt financing from various institutional lenders arranged by MEAG.

The operation of the Leipzig S-Bahn network is a further milestone on NETINERA’s way to strengthen its position in Europe and drive its expansion in the German rolling stock market which holds significant growth potential. The fleet will allow state-of-the-art passenger experience and uplift capacity, helping to meet Germany’s growing demand for eco-friendly modes of transport.

Die Länderbahn is one of the leading German transport companies and a subsidiary of NETINERA Group, which is part of Trenitalia and thus of the Italian Ferrovie dello Stato Italiane (FS Group). Since 2004, NETINERA has been operating public transport systems in Germany.

Rock Rail is a UK-based independent developer, owner, asset manager and lessor of rolling stock and other rail infrastructure established in 2014.

Infracapital, is a leading European infrastructure investor and part of M&G Plc. Infracapital invests in, builds, and manages a wide range of essential infrastructure.

The Addleshaw Goddard team led by corporate finance partner Eckart Budelmann (Hamburg) included Nadine Bourgeois (partner), Nikolos Tsagareli (counsel, both finance, Frankfurt), Fabian Neppessen (managing associate), Alexandra Rose (managing associate) and Dr Theresa Röttger (associate, all corporate, Hamburg). NETINERA’s in-house legal team was led by Dr Heiko Piesbergen (Head of Legal).

Addleshaw Goddard has deep industry expertise in the transport sector and regularly advises long-standing client NETINERA Group. Prior to the financing of the new Leipzig S-Bahn fleet, Addleshaw Goddard’s public procurement team led by partner Dr Jan-Oliver Schrotz (Hamburg) successfully represented Die Länderbahn in the review proceedings against the decision of the public transport authority in favour of Die Länderbahn.