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Australia signs deal for 12 ‘regionally superior’ subs
The Commonwealth government has signed an agreement with a European naval defence powerhouse for $50 billion worth of Attack Class submarines.
Grace Ormsby
Firm: Allens and Gide Loyrette Nouel (Naval Group, Naval Group Australia Pty Ltd); Clayton Utz (Commonwealth government)
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Deal: A strategic partnering agreement has seen the Commonwealth government procure 12 ‘regionally superior’ submarines.
Value: $50 billion
Area: Defence, Infrastructure
Key players: Allens’ joint lead partners on the deal were Nigel Papi, Andrew Mansour, and Ian McGill.
Partners Nicholas Adkins, Malcolm Stephens, Veronica Siow, and Miriam Stiel assisted, with managing associate Larissa Chu, senior associate William Coote, associates Flora Ma and Magda Kucharska, and lawyers James Higgins and Connie Ye.
Deal significance: Naval Group is the European leader in naval defence, and the company, alongside its subsidiary, Naval Group Australia Pty Ltd, will see a strategic partnership formed with the Australian government for a national Attack Class Submarine Program for the building of 12 ‘regionally superior’ submarines.
The program represents the largest Commonwealth defence procurement in Australia, and is among the largest defence procurements in the world, according to Allens.
Allens and French law firm Gide advised on all aspects of Naval Group’s engagement as the platform system integrator for the program, including the strategic partnering agreement, mobilization, design, and submarine construction yard infrastructure development, the firm said.
Joint lead partner on the deal for Allens, Nigel Papi, said “we’re honoured to have worked with Naval Group on this once-in-a-generation procurement”.
“It’s been a privilege to work alongside Naval Group and Gide for two-and-a-half years on this project, which will shape the Australian military for the next 40 years,” he said.
