Clifford Chance advises Leonardo on the joint venture for the Global Combat Air Programme (GCAP)
17 December 2024
- Paolo Sersale, Francesca Casini, Francesco Romagnoli, Alex Cook, Michael Pearson, Luciano Di Via, Antonio Mirabile, Maria Bazzini, Andrea Tuninetti Ferrari, Don McCombie, Sean Wood, Natsuko Sugihara, Masafumi Shikakura, Shunsuke Nagae
- Milan, Tokyo, London
Clifford Chance advises Leonardo on the joint venture for the Global Combat Air Programme (GCAP)
Clifford Chance has advised Leonardo on the signing of the agreements aimed at the creation of the new equal joint venture which involves the strategic collaboration between BAE Systems (United Kingdom), Leonardo (Italy) and Japan Aircraft Industrial Enhancement Co Ltd (Japan). The joint venture, which is subject to obtaining the necessary regulatory approvals, represents a key step in the development of the Global Combat Air Programme (GCAP), aimed at designing, developing and delivering a next-generation combat aircraft, and maintaining its role as a design authority throughout the aircraft's lifecycle.
The new company, owned in equal parts by the three industrial partners (33.3% each), will make it possible to combine the capabilities and expertise of these three main sector players to the benefit of the development of the aerospace and defense industry– at an international level. The project, which aims to develop air combat capability and ensure technological sovereignty and global security, envisages the entry into service of the GCAP aircraft by 2035, with an operational horizon extending beyond 2070.
Clifford Chance provided legal assistance in all phases of negotiation and definition of the agreements, with a cross-border and multidisciplinary team that provided specialised expertise. In Italy, the team comprised partner Paolo Sersale, counsel Francesca Casini and associate Francesco Romagnoli who assisted Leonardo on all contractual and corporate governance aspects of the joint venture. They were joined by partner Alex Cook and partner Michael Pearson who provided support for the aspects of English law and regulations for the defence sector. Antitrust aspects were handled by partner Luciano Di Via, senior associate Antonio Mirabile and associate Maria Bazzini, while specialist advice on intellectual property aspects was provided by counsel Andrea Tuninetti Ferrari and, from the United Kingdom, by partner Don McCombie as well as senior associate Sean Wood. For Japan, support was provided by partner Natsuko Sugihara, partner Masafumi Shikakura and counsel Shunsuke Nagae.
Leonardo's in-house legal team was led by General Counsel Federico Bonaiuto, and comprised furthermore Emanuele Barbieri, Head of GCAP and Space Legal, Federico Carmosino and Federico Tedesco.