In July 2015,
Gowling WLG advised longstanding Pensions client Rothesay Life
on a bulk annuity deal with the Civil Aviation Authority Pension
Scheme, worth £1.6 billion. At the time of completion, this
was the second largest buy in ever secured by a UK pension scheme.
It was also the UK's largest de-risking transaction completed
at that time.
Guy Freeman of Rothesay said: "It's a pleasure to work
with the responsive, pragmatic and energetic team at Gowling WLG
led by Paul Feathers". He also commented that "the
Gowling WLG team is more like an extension of our own team than an
Gowling WLG has worked with Rothesay on various transactions of
this nature, including advising on Rothesay's £675
million buyout of the pension plan for the Lehman Brothers'
European arm and the £500 million "all risks"
buyout of the Western United Group Pension Scheme.
Paul Feathers commented that: "Rothesay is a leading player
within the market, and is in a prime position to capitalise on
opportunities for growth. We're thrilled to be working closely
with the team at Rothesay to achieve this".
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