Clifford Chance advises Airbus on signing MoU with Thales and Leonardo to create a European leader in the space sector

Clifford Chance advises Airbus, a global aerospace and defence group, on the signing of a memorandum of understanding (MoU) with Thales, a global leader in high technology for the defence, aerospace, and cybersecurity sectors, and Leonardo, a major Italian industrial group active in the aerospace, defence, and security sectors, aimed at combining their space activities within a new company.

The combination of the satellite production and related services activities of Airbus, Leonardo, and Thales would pave the way for the creation of a resilient European space player, with the ambition of strengthening Europe’s strategic autonomy and increasing its global competitiveness by leveraging the technological expertise and operational capabilities of the three companies.

The project remains subject to customary regulatory conditions and approvals, with the new company expected to be operational in 2027.

The Airbus legal department headed by John Harrison, General Counsel & Head of Public Affairs, and the teams led by Edouard Eltvedt, SVP Legal Corporate Affairs, including Loïc Amiand (Head of Legal M&A) and Elise Riaux for M&A aspects are advised by an pan-European multidisciplinary team from Clifford Chance, led from Paris by partners Gilles Lebreton and Marianne Pezant, Gareth Camp from London, Thomas Krecek from Frankfurt, Luis Alonso from Madrid, and Umberto Penco-Salvi from Milan.

Alongside Gilles Lebreton and Marianne Pezant (partners), Marie Silvain and Leila Medjadji (associates) also contribute in Paris on corporate aspects, Dessislava Savova (partner), Alexandre Balducci, Lisa Fournier, and Jérémy Guilbault (associates) on the commercial contracts aspects, Florence Aubonnet and Ekaterina Zaboussova-Celsa (partners), assisted by Eva Feurtet and Alexandre Lepoutre (associates) on labor law aspects, Gauthier Martin (partner) Clémence Graffan (counsel), Claire Oualid, Pierre-Hubert Boissière, and Alexandra Demai (associates) on public law aspects, Alice Dunoyer de Segonzac (counsel) and Mariam Tayara (associate) on compliance aspects, and Hendrik Coppoolse (associate) on regulatory aspects.

Our London, Frankfurt, Madrid, and Milan offices are also involved.