Peace Talks
Hi ZipLawyer! Today’s Memo:
🇺🇦 Trump and Putin talk
🇮🇳 India-US trade tensions
🇬🇧 UK Dodges Recession
🤝 Skadden, Macfarlanes advise on £2.5B deal
🧓 Gowling leads on Pension Buy-In
🙋 What is Due Diligence?
Trump and Putin talk
Donald Trump has agreed with Vladimir Putin to start negotiations to end the Ukraine war, a major shift in U.S. policy that has rattled European allies. The move, which hints at possible territorial concessions, has raised fears of handing Russia strategic advantages. Trump’s defence secretary suggested Ukraine may have to forgo NATO membership, further unsettling Kyiv. While Trump insists he’s pushing for peace, critics warn the deal could weaken Ukraine’s position and reshape transatlantic alliances.
Trade Talks
Indian PM Narendra Modi is heading to Washington for talks with Donald Trump, as trade tensions simmer between the two nations. Despite a growing U.S.-India partnership, Trump has slammed India’s high tariffs and hinted at new trade barriers. Modi has tried to smooth things over by cutting some tariffs and boosting U.S. imports, but thorny issues like immigration policies and economic ties remain. With India’s stock market on edge, the meeting will test Modi’s ability to balance U.S. relations while safeguarding India’s interests.
UK Dodges Recession
The UK economy eked out 0.1% growth in Q4 2024, narrowly avoiding a technical recession—a small win for Labour amid sluggish conditions. But beneath the surface, the private sector shrank for a second straight quarter, with growth propped up by government spending on health, defence, and public services. Consumer spending flatlined, and business investment plunged 3.2%, raising concerns over long-term momentum. With economic pressures mounting, Chancellor Rachel Reeves faces a tough balancing act ahead of March’s budget forecast.
Skadden, Macfarlanes advise on £2.5B deal
The UK Competition and Markets Authority (CMA) has cleared BlackRock’s £2.55 billion acquisition of Preqin, allowing the world’s largest asset manager to complete the deal. Preqin, a London-based financial data provider, specialises in private markets data, serving over 200,000 professionals worldwide. The move strengthens BlackRock’s investment technology offerings, particularly its Aladdin platform, though Preqin will continue operating as a standalone unit. Following a phase-one antitrust review, the CMA found no competition concerns, greenlighting the deal without further scrutiny. Skadden Arps advised BlackRock, while Macfarlanes represented Preqin.
💡 Tip: The full reports for all law firm cases, deals and news are available in the ZipTracker.
Gowling leads on Pension Buy-In
The Finning Pension Scheme has offloaded £250 million in liabilities to Standard Life through a full scheme buy-in, securing retirement benefits for 2,170 members while reducing employer risk. Unlike a buyout, the scheme remains in place, but Standard Life now funds pension payments. This deal is part of a booming pension risk transfer market, expected to hit £70 billion in 2025, as companies capitalise on strong funding levels to shed pension liabilities. Gowling WLG advised the Finning Pension Scheme.
Term of the Day: Due Diligence
Due diligence is like doing a thorough background check before making a big decision like buying a company. It involves carefully reviewing financial records, risks, and legal matters to ensure there are no hidden surprises. Just like inspecting a house before buying it—checking for leaks, structural issues, and legal paperwork—due diligence helps buyers make informed and confident decisions.
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