20 Jun 2022 | 09:03 am |
Multinational law firm Pinsent Masons has advised Scottish Widows on a £320m buy-in with the trustee of the De La Rue pension scheme.
This is the Scheme’s first pensioner buy-in with Scottish Widows and covers the liabilities for approximately 1,400 pensioners.
The buy-in represents a significant step in the Scheme’s de-risking journey, helping the Trustee improve the security of members’ benefits and to reduce the risk to the Scheme’s sponsoring company, De La Rue plc.
Partner Matthew de Ferrars led the Pinsent Masons team which included Josh Potter and Stewart Murphy.
Commenting on the transaction, Matthew said: “Having entered exclusivity, insurers and trustees need confidence that the buy-in will complete within their preferred timeframe – and this buy-in was no exception. We help provide that confidence, and this buy-in adds to our track record of delivering successful transactions.”
Lara Desay, Head of Origination and Operations at Scottish Widows commented: “We are extremely happy to have been chosen by the Trustee to complete the Scheme’s first buy-in transaction, marking a material step in their derisking journey and providing increased security to their members. Working in partnership with the Trustee and our respective advisers and to a clearly defined timetable, we were able to complete this transaction around 4 weeks after being awarded exclusivity. We look forward to becoming a long-term partner of the Scheme.”
Multinational law firm Pinsent Masons has advised Bestinver Infra, FCR, on the acquisition of an interest in N6 (Concession) Holdings Limited and N6 (Operations) Limited from Sacyr Concessions Limited.
Multinational law firm Pinsent Masons has been named the Most Innovative Law Firm in Europe and won the Energy & Security Transition category at this year’s FT Innovative Lawyer Awards.
Multinational law firm Pinsent Masons has been named as a top ten family friendly employer by the national charity for working parents and carers Working Families.
Multinational law firm Pinsent Masons has appointed pensions partner Amie Bain into its Glasgow office.
Multinational law firm Pinsent Masons has appointed partner Harjeet Lall to join its finance and restructuring team in London.
Multinational law firm Pinsent Masons has hired Corporate Partner Camille Chiari who joined the firm’s Paris Office.
For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on