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Aspiring Lawyers - Interviews & Vacation Schemes
Commercial Awareness Discussion
Commercial Awareness Update - March 2020
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<blockquote data-quote="Alice Manners" data-source="post: 26787" data-attributes="member: 3460"><p>Hi all, here's this weeks commercial update <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite1" alt=":)" title="Smile :)" loading="lazy" data-shortname=":)" /></p><p></p><p><strong>Blackstone invests in UK e-commerce sites despite COVID-19 outbreak by [USER=4422]@Curtley Bale[/USER] </strong></p><p></p><p><u>The Story </u></p><p></p><p>Despite the downturn of economic activity due to the spread of COVID-19, private equity firm Blackstone have ramped up their interest in the UK e-commerce market. The firm has agreed a £120m deal to buy 22 UK logistic sites and warehouses across the country. The deal will mean adding around 2msqft in floor space to their already sizeable logistics portfolio. </p><p></p><p><u>Impact on Businesses and Law Firms</u></p><p></p><p>Although global activity is at an all-time low, Blackstone is making a bet for the future through this deal. It is unlikely that the demand for warehouse and logistics space will fall at any time soon. In fact, there has been a huge surge in necessity following the Coronavirus spread and demand for home delivery. Therefore, Blackstone is entering a market that is very much moving, despite global trends. </p><p></p><p>The private equity firm is growing its logistics portfolio with its ‘Mileway Division’ being responsible for this deal. The division has a European portfolio of over 1,300 properties worth €8bn. Blackstone’s commitment to the industry and the UK as a whole demonstrates the UK’s importance in the growing field of online commerce. It is one of the only sectors still operating, and even growing, in spite of the global epidemic. This commitment to the UK has been echoed by private equity rivals such as KKR who last week purchased British recycling company Viridor for £4.2bn.</p><p></p><p>Blackstone has traditionally been advised by firms with strong real estate or private equity practises. This includes firms such as BCLP, Kirkland & Ellis and Weil, Gotshal & Manges. Lawyers will have worked on structuring the deal and balancing Mileway’s portfolio in the most cost-efficient way. The challenge will not only have been in the complexity of the deal, but also incorporating the remote-working system now in place across the UK. </p><p></p><p><strong>Stockpiling & the Rise of Online Grocery Deliveries by [USER=3442]@Rachel S[/USER] </strong></p><p></p><p><u>The Story </u></p><p></p><p>Panic buying across the UK is leading to unprecedented demand for online grocery deliveries and supermarket adaption. </p><p></p><p>Online grocery retailer, Ocado, experienced such a rapid increase in online orders last week that operators reportedly thought the system was experiencing a software attack and closed the website for maintenance for four days. The website has since been updated to ensure “fair” distribution of products to customers. Even retailer behemoth, Amazon, has limited fulfilment centres to restrict warehouse stocks to household essentials and medical supplies until the 5th April showing the current scale of demand.</p><p></p><p>Aside from the rise of online deliveries, the impact of Covid-19 will drastically change grocery production and supply chains. Vehicles, drivers and products from the catering trade are being switched to the retail supply chain with the closure of bars and restaurants. Supermarkets are increasing their click-and-collect capacity, restaurants are moving to online deliveries and a hiring spree is taking place to replenish stock levels in distribution centres and supermarkets. </p><p></p><p><u>Impact on Businesses and Law Firms</u></p><p></p><p>With such demand, online models of delivery are being stress-tested. Supermarkets will need to consider restructuring their supply chains, recruitment, and investment in new equipment like delivery vehicles and IT to manage increased demand. </p><p></p><p>Law firms may advise on establishing online platforms, data management, service agreements with new suppliers and flexible employment contracts. Regulations are also changing rapidly in these exceptional circumstances. For example, the Department of Transport has relaxed the rules for delivery driver’s hours in transporting essential items. Retailers have also demanded a relaxation of competition policy to allow collaboration between retailers to maintain food supplies and reconsideration of the Groceries Supply Code of Practice which requires a “reasonable notice” of changes to supply contracts.</p></blockquote><p></p>
[QUOTE="Alice Manners, post: 26787, member: 3460"] Hi all, here's this weeks commercial update :) [B]Blackstone invests in UK e-commerce sites despite COVID-19 outbreak by [USER=4422]@Curtley Bale[/USER] [/B] [U]The Story [/U] Despite the downturn of economic activity due to the spread of COVID-19, private equity firm Blackstone have ramped up their interest in the UK e-commerce market. The firm has agreed a £120m deal to buy 22 UK logistic sites and warehouses across the country. The deal will mean adding around 2msqft in floor space to their already sizeable logistics portfolio. [U]Impact on Businesses and Law Firms[/U] Although global activity is at an all-time low, Blackstone is making a bet for the future through this deal. It is unlikely that the demand for warehouse and logistics space will fall at any time soon. In fact, there has been a huge surge in necessity following the Coronavirus spread and demand for home delivery. Therefore, Blackstone is entering a market that is very much moving, despite global trends. The private equity firm is growing its logistics portfolio with its ‘Mileway Division’ being responsible for this deal. The division has a European portfolio of over 1,300 properties worth €8bn. Blackstone’s commitment to the industry and the UK as a whole demonstrates the UK’s importance in the growing field of online commerce. It is one of the only sectors still operating, and even growing, in spite of the global epidemic. This commitment to the UK has been echoed by private equity rivals such as KKR who last week purchased British recycling company Viridor for £4.2bn. Blackstone has traditionally been advised by firms with strong real estate or private equity practises. This includes firms such as BCLP, Kirkland & Ellis and Weil, Gotshal & Manges. Lawyers will have worked on structuring the deal and balancing Mileway’s portfolio in the most cost-efficient way. The challenge will not only have been in the complexity of the deal, but also incorporating the remote-working system now in place across the UK. [B]Stockpiling & the Rise of Online Grocery Deliveries by [USER=3442]@Rachel S[/USER] [/B] [U]The Story [/U] Panic buying across the UK is leading to unprecedented demand for online grocery deliveries and supermarket adaption. Online grocery retailer, Ocado, experienced such a rapid increase in online orders last week that operators reportedly thought the system was experiencing a software attack and closed the website for maintenance for four days. The website has since been updated to ensure “fair” distribution of products to customers. Even retailer behemoth, Amazon, has limited fulfilment centres to restrict warehouse stocks to household essentials and medical supplies until the 5th April showing the current scale of demand. Aside from the rise of online deliveries, the impact of Covid-19 will drastically change grocery production and supply chains. Vehicles, drivers and products from the catering trade are being switched to the retail supply chain with the closure of bars and restaurants. Supermarkets are increasing their click-and-collect capacity, restaurants are moving to online deliveries and a hiring spree is taking place to replenish stock levels in distribution centres and supermarkets. [U]Impact on Businesses and Law Firms[/U] With such demand, online models of delivery are being stress-tested. Supermarkets will need to consider restructuring their supply chains, recruitment, and investment in new equipment like delivery vehicles and IT to manage increased demand. Law firms may advise on establishing online platforms, data management, service agreements with new suppliers and flexible employment contracts. Regulations are also changing rapidly in these exceptional circumstances. For example, the Department of Transport has relaxed the rules for delivery driver’s hours in transporting essential items. Retailers have also demanded a relaxation of competition policy to allow collaboration between retailers to maintain food supplies and reconsideration of the Groceries Supply Code of Practice which requires a “reasonable notice” of changes to supply contracts. [/QUOTE]
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Commercial Awareness Update - March 2020
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