CMS Cameron McKenna advises VT Group on Joint Venture with Lockheed Martin for UK Military Flying Training System Project
05.06.2008
CMS Cameron McKenna LLP has advised VT Group plc on its involvement in Ascent, a 50/50 Joint Venture with Lockheed Martin, which has signed a contract with the Ministry of Defence for the UK Military Flying Training System (UKMFTS).
The 25-year programme will make Ascent the Ministry of Defence’s Training System Partner to provide comprehensive training to all UK military air crew for the Royal Navy, Royal Air Force and Army Air Corps.
The total programme value is estimated to be worth up to £6 billion over the 25 years with initial contract value around £600 million to Ascent. Additional capabilities will be added incrementally over the life of the programme.
Ascent will start by carrying out a training needs analysis and providing a Ground Based Training Environment (GBTE) for the Hawk 128 Advanced Jet Trainer at RAF Valley. This will include sub contracting VT Support Services to project manage the construction of new facilities, while VT Communications will also provide related ICT infrastructure.
The CMS Cameron McKenna team was led by Corporate Partner, Jason Zemmel, assisted byvDipesh Santilale. Frank Dufficy and Rob Gray of CMS Cameron McKenna advised on projects and finance aspects.
Jason Zemmel commented on the transaction, “We are delighted to support our client VT Group in their latest major success, which builds on our excellent and close relationship with VT Group. UKMFTS is a major programme for VT Group, as one of the MoD’s leading partners in defence support services. The transaction reflects our commitment to support clients in relation to their industries and their corporate focus.”
CMS Cameron McKenna is one of the major participants on VT Group’s legal panel and has acted for the group for over 15 years.
Berwin Leighton Paisner LLP acted for Ascent and Ashurst LLP advised Lockheed Martin.
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