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Friday, September 29, 2023

Cuatrecasas assists Tranvías de Zaragoza with new units acquisition

Cuatrecasas has advised SEM Los Tranvías de Zaragoza S.A. on the acquisition of two new tramway units for more than €10 million

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These two new tramway units will increase the city’s train fleet, improving frequency and user comfort. In addition, the company’s equity structure will be strengthened by at least €40 million.

Angel Modrego, Cuatrecasas counsel, said: “As legal advisors to the company from the very moment it was incorporated, we are proud to continue supporting it in a key project that will increase the available fleet and, of course, the quality of the service provided to the citizens of Zaragoza.”

This transaction will be 90% financed by a grant awarded by the Ministry of Transport, Mobility and Urban Agenda for the implementation of low-emission zones and the digital and sustainable transformation of urban transport, within the framework of the recovery, and transformation and resilience plan supported by EU Next Gen funds. Zaragoza City Council, SEM Los Tranvías de Zaragoza, S.A., Construcciones y Auxiliar de Ferrocarriles, S.A. and the company’s financing entities were involved in this acquisition.

The team involved in the transaction was led by Cuatrecasas counsel Ángel Modrego, along with lawyers Andrea Morales and María Isabel Roy.

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