Advising Veolia Transport on their partnership to run Hong Kong Tramways

Pinsent Masons advised Veolia Transport on the due diligence and other Hong Kong law aspects of a 50-50 partnership with Wharf Transport Investments Ltd to operate Hong Kong's cherished tramway.

Under the terms of the partnership, announced 7th April 2009, Hong Kong Tramways Ltd will be equally owned by Wharf Transport, a subsidiary of the Hong Kong-listed Wharf (Holdings) Ltd, and Veolia Transport, a division of Veolia Environnement.

The iconic Hong Kong Tramways has been operating tram services in Hong Kong since 1904 and currently consists of a fleet of 163 tramcars. It is the world’s largest fleet of double-deck tramcars still in operation, carrying an average of 240,000 passengers every day. Veolia Transport will be responsible for the operation and management of the network.

Gide Loyrette Nouel acted as lead counsel for Veolia Transport. The due diligence and Hong Kong aspects of the transaction were handled in collaboration with Pinsent Masons.