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Media Releases
2008

04 July
2008

Shepherd and Wedderburn acts for BAE Systems

Shepherd and Wedderburn has acted for BAE Systems in the transfer of some of Glasgow's most historic shipyards to BVT Surface Fleet, the joint venture created when the company merged with VT Group.

The transfer of the Scotstoun and Govan shipyards for circa £47m formed a key part of the deal that will see 7,000 people employed in engineering and shipbuilding across these and other sites at Bristol and Portsmouth.

The Shepherd and Wedderburn team was led by property partner, Nick Ryden. He commented: "This is a unique transaction given the unusual nature of the property and facilities involved. The deal will have an important impact on Scotland, securing jobs, underpinning economic development and continuing the long tradition of world-class shipbuilding on the Clyde."

The BVT Surface Fleet joint venture became operational on 1 July, when it was announced that it will be awarded a £4bn Ministry of Defence contract to manufacture two Royal Navy aircraft carriers - HMS Queen Elizabeth and HMS Prince of Wales. The latter will replace the Ark Royal, the flagship of the Royal Navy fleet, by 2016, while the former will enter service in 2016 and will be the largest warship ever built.


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