Freshfields advises longstanding client BAE Systems on its strategic business joint venture with Leonardo and Japan Aircraft Industrial Enhancement Co Ltd (JAIEC) to form a new company to deliver the next generation combat aircraft under the Global Combat Air Programme (GCAP).

The joint venture builds on the trilateral government, defence, and industrial cooperation between the UK, Japan, and Italy on GCAP since it was established in December 2022.  The new joint venture will be accountable for the design, development and delivery of the next generation combat aircraft (targeting a 2035 aircraft in-service date) and will remain the design authority for GCAP for the life of the aircraft, which is expected to go out beyond 2070. BAE Systems, Leonardo, and JAIEC will each hold a 33.3% shareholding in the new joint venture, the incorporation of which is subject to regulatory approvals.

Partner Piers Prichard Jones, senior associate Lucy Cliff and associates Yoel Gordon and Charlie Bouchier led on corporate matters. Partner Giles Pratt, senior associate Zofia Aszendorf and associates Jaymie Younger and Alistair Milne led on intellectual property matters. Partner Alex Potter and associate Remony Vials led on antitrust and regulatory matters, with partners Kaori Yamada and Gian Luca Zampa, counsel Giorgio Candeloro, senior associate Iona Crawford and associates Edward Dean, Hitoshi Nakajima and Fabian Bickel, and support from partner Alistair Mordaunt.  Advice on dispute resolution and procurement aspects was provided by partners Kate Gough and Ali Kirby-Harris, with support from senior associates Liz Forster, Oliver Hamill and Adam Kosmalski. Partner Takeshi Nakao and senior associate Naoki Matsuhita supported the London global transactions team from Tokyo, while Nicola Asti provided Italian corporate advice.