Legal News: Key Updates You Can't Miss! ⚖️

DLA Piper Promotes 65 New Partners Across 18 Countries

The Big Picture 

DLA Piper has promoted 65 lawyers to partner, keeping pace with last year’s cohort (63), though slightly down from 70+ promotions in 2022 and 2023. This round reflects the firm’s continued growth and focus across its global footprint.

Practice Area Highlights:

The promotions span all practice areas, with the corporate team once again leading the way:

• Corporate: 19

• Litigation: 13

• Finance: 12

• Real Estate: 6

• Employment & IP/Technology: 5 each

• Tax: 3

• Regulatory/ Govt Affairs: 2

Diversity Update:

• 15 women were promoted—23% of the total.

• In 2021, DLA set a target of 30% female partners by 2025 in EMEA and Asia Pacific.

• Current goal: 40% by 2030.

Internal Moves & Exits: The news comes amid recent high-profile departures in London

• James O’Donnell (Investment Funds) → Gibson Dunn

• Sarah Smith (UK Competition) → Simmons & Simmons

Controversy in the US:

Reports suggest DLA Piper’s US arm has adjusted internal diversity initiatives, including:

• Disbanding minority/ affinity groups

• Removing pronouns from email signatures

This comes amid increasing scrutiny by the Trump administration over corporate diversity policies.

Commercial News: The Latest Insights You Need to Know! 📈

Deal Spotlight: Boeing Sells Digital Aviation to Thoma Bravo for $10.55 Billion

What’s the Deal?

Boeing is selling a major chunk of its digital aviation business to private equity giant Thoma Bravo in an all-cash deal worth $10.55 billion.

Who’s advising whom?

• Thoma Bravo is being advised by Kirkland & Ellis, continuing a long-standing relationship.

• Boeing is working with Mayer Brown, with partner Jason Quintana leading the charge. Fun Fact: Quintana used to work in-house at Boeing!

What’s in the Deal?

• AerDate (lease management software)

• Jeppesen (navigation software)

• ForeFlight (aviation navigation app)

However, Boeing will retain its core digital tools, especially those tied to aircraft maintenance, diagnostics, and repair services.

Why is Boeing Selling? 

Under new CEO Kelly Ortberg, Boeing is looking to refocus on its core business and cut down its heavy debt following multiple challenges, including safety scandals.

What’s next for Thoma Bravo? 

This marks a big leap into aviation tech for Thoma Bravo, which is known for its software and cybersecurity deals.

They are funding the deal with $6bn in equity and $4bn in debt, backed by Apollo Global Management under a lending deal with Citigroup.

Deal Closing Timeline?

Expected to close by the end of 2025.

Market context:

The deal comes amid a hot start to 2025 for M&A, with Q1 activity jumping 15% to $885bn globally.

Legal League Tables:

• Kirkland & Ellis: Ranked #4 for global M&A in Q1 2025, working on £103bn worth of transactions.

• Mayer Brown: Not in the top 25 for this quarter.

Legal Lingo Unpacked: Your Quick Terminology Breakdown! ⚖️

What does “WHT” Mean?

Withholding tax or WHT refers broadly to tax which the person making a payment has to deduct from the payment and account for the tax authorities. The UK makes some payers withhold tax on certain types of payment, including, amongst other things, certain salary and interest payments. Instead of requiring the recipient to pay the applicable tax following receipt of the full amount, a portion of the payment is withheld and paid directly to HMRC by the payer, and the recipient gets a “credit” for that in their tax return. Withholding tax can, therefore, be considered a collection mechanism.

For example, if income tax were charged at 20% on a £110 salary payment, the employer would instead pay the employee £80, and hand £20 directly to HMRC. The employee should then not have to pay the same tax again in their annual tax return.

Withholding tax benefits tax authorities in several ways, for example:

• It often means the tax accounting and payment is done by the party better equipped to do so, for example, employer payroll departments rather than individual employees.

• It provides a tool against tax evasion/ non-compliance. Where payments are made “gross,” i.e. including the tax amount of a payment, they can become more difficult to tax, particularly where a payee is located overseas. Taxing at the source can mean catching the payment while it is still in the tax authority’s control.

• It can offer a cash flow advantage. Rather than writing for the end of the period when the recipient completes their tax returns, the tax authorities are paid the tax earlier by the recipient.