Joint ventures provide a structure for cooperation that allows businesses to share risk, resources and rewards. Our lawyers have a wealth of experience helping clients put in place – and, when necessary, unwind – joint venture arrangements.

We provide bespoke commercial advice and practical solutions to allow clients to structure realistic joint ventures. We can advise on structures that give participants clear and certain obligations, to exploit their combined strengths while safeguarding individual interests.

We draw on the expertise of lawyers in our corporate and finance teams, as well as the sector knowledge of a range of specialists in advertising, banking, communications, media, sports, technology, transport and travel, to devise corporate and contractual joint venture structures that take account of industry-specific commercial drivers, economic and political pressures, and regulatory regimes.

Our experience includes ventures based on contractual, partnership, LLP and company structures; multi-party arrangements including those designed to facilitate the addition of new partners; JVs involving both public sector and private sector participants; mechanisms for ensuring compliance by JVs with statutory and regulatory requirements imposed on its participants and fixed term and open-ended JVs.

We can also advise on mechanisms for protecting the interests of participants with different funding obligations and abilities; dispute resolution procedures; provisions to deal with defaulting or dissident parties and protect the interests of all participants; protection for the intellectual property made available by participants as well as that developed in the joint venture; and strategies for exit.


Notable deals / highlights

  • Advised a group of broadcasters and internet service providers on the ground-breaking YouView JV, establishing a standards-based, open, internet-connected TV environment that seamlessly integrates the broadcast and on-demand worlds via television. The high profile joint venture was widely acknowledged to be one of the most important developments in the broadcast industry. The joint venture comprises the BBC, ITV, Channel 4, BT, TalkTalk, Arqiva and Channel 5, and we advised all participants. The team was subsequently awarded 'TMT Team of the Year' at the Legal Business awards for its work on the transaction.
  • Acted for long-standing client JSC KazMunaiGas Exploration Production on the sale of a 49% interest in JSC Karpovskiy Severniy, holder of an oil and gas exploration license in Kazakhstan, to MOL plc. The deal involved creation of a joint venture company in the Netherlands to develop the exploration assets in Kazakhstan.

  • Advised in relation to the investment by a supermajor alongside other investors in a company running a trans-national pipeline project. The investment could lead to a full scale joint venture project for the construction of the pipeline at a value of in excess €3 billion. We assisted with the drafting and negotiation of the main funding agreement, an option agreement, the shareholders' agreement principles, facility agreements and various other documents.

  • Advised Portland Gas on the creation of a study group of international companies to investigate the feasibility of developing a £500m joint venture for the development of a major gas storage project in the Isle of Portland.

  • Advised Kent Reliance Building Society on a proposed new business structure that saw US private equity firm J.C. Flowers take a stake in its business, providing substantial new capital. The deal was the first time that a private equity business had invested in a UK mutual lender.

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