Linklaters cashes in on UK push to bolster naval fleet
Magic Circle law firm Linklaters is cashing in on the Royal Navy’s push to bolster its fleet with the purchase of five new battleships from British arms manufacturer BAE.
The City law firm is advising the UK’s Ministry of Defence (MoD) as it pushes forwards with the purchase of five new battleships from BAE Systems for £4.2bn.
The deal will see the MoD buy five Type 25 Frigates from BAE’s Glasgow based ship making subsidiary.
The new ships, which include the 6,900 tonne HMS Glasgow that entered the River Clyde on Saturday, are set to replace the Navy’s current fleet of Type 23 Frigates.
The UK government’s £4.2bn contract to build the five new ships in Glasgow is set to support 1,700 jobs over the coming decade.
The contract follows prime minister Rishi Sunak’s announcement of plans to invest in “building the next generation of British warships” at the G20 summit in Bali in November.
The deal follows the UK government’s decision in October to scrap plans to spend three per cent of Britain’s GDP on defence.