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27/01/2009

Shepherd And Wedderburn Close £320m Deal For New Road Link

UK law firm Shepherd and Wedderburn has closed a £320m deal to upgrade the road link between Stepps in North Lanarkshire and Haggs in Falkirk.

The firm acted for a consortium led by international construction and services group Bilfinger Berger to deliver the Design Build Finance Operate (DBFO) project for the M80 Stepps to Haggs.

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The project involves a combination of new carriageway and upgrade of the existing carriageway, extending to 18km of motorway.

The projects and banking teams at Shepherd and Wedderburn negotiated the deal with Transport Scotland and to secure the finance, construction and operation elements of the project. Five banks, including the European Investment Bank, will finance the scheme.

Patrick Andrews, Chief Executive of Shepherd and Wedderburn, said: "This deal is not just strategically significant for both Bilfinger Berger and our firm, but it is also a notable achievement in the current economic environment."

(GK/BMcC)

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