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| Project of the month |
2011-06-20 e|n|w|c Attorneys at Law in Hungary advised MĀV-TRAKCIŌ Zrt. (a subsidiary of the Hungarian State Railway Company) in the financing of the purchase of 25 TRAXX P 160 AC locomotives valued at approximately EUR 80 millions.
Established in 1986, e|n|w|c Attorneys at Law today is one of the leading internationally operating law firms in Austria, with offices in Vienna, Budapest, Prague, Brno, Bratislava, Warsaw and Kiev. The Project e|n|w|c Attorneys at Law in Hungary advised MĀV-TRAKCIŌ Zrt. (a subsidiary of the Hungarian State Railway Company) in the financing of the purchase of 25 TRAXX P 160 AC locomotives valued at approximately EUR 80 millions. The locomotives, which operate with alternating current (AC), are intended for passenger service in Hungary as well as for cross-border transport to Austria and Germany. The challenge of the deal was the coordination of the two financing banks, as they came from two different jurisdictions and the local rules and regulations of a public award procedure had to be met on both sides. The purchase of these 25 locomotives was a very important deal in Hungary, as it leads to a long awaited locomotive fleet modernisation of the Hungarian National Railways. An option for 25 further locomotives was agreed upon during the negotiations.
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