DLA Piper advises Scottish Widows on GBP400 million full scheme buy-in

Global law firm DLA Piper has advised Scottish Widows as the insurer on a c.GBP400 million full scheme buy-in of the Harrods Group Pension Plan, as sponsored by Harrods Holding Limited.

The transaction sees Scottish Widows insuring the benefits of some 1,900 pensioners and 2,100 deferred members of the plan. The buy-in will provide increased security to the members’ benefits

Amrit Mclean, head of de-risking and UK insurance sector lead at DLA Piper, comments: “It was an absolute pleasure advising the Scottish Widows team on this deferred heavy transaction. We very much enjoyed working with all parties to get this deal over the line. A huge thank you to the DLA Piper team for all of their hard work.”

The DLA Piper team, as led by Amrit Mclean, comprised associate Oritsema Ejuoneatse, and legal directors Michael Dando and Eve Wallace.