The End of the PPP: TfL Buy Out Tube Lines

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Tfl have bought out Tube Lines’ shareholders for a reported £310m.

The deal sees Bechtel and Amey bought out completely, although Amey will continue to act as primary contractor on various works across the Jubilee and Northern lines for the time being. As part of the deal, TfL will take on all of Tube Lines debt.

The buyout is believed to have been on the cards for several weeks now, but could not be completed until after the General Election to avoid breeching the purdah.

Written by John Bull