 Solution

The neutral product is cis-$[\mathrm{NiC}{\mathrm{l}}_2(\mathrm{dppe})]$, and the displaced material is six waters per nickel:The two phosphorus donors of dppe chelate the same metal, forcing adjacent donor positions. The diamagnetism identifies a square-planar, paired $d^8$ Ni(II) centre rather than a tetrahedral high-spin $d^8$ centre. Its valence count is $8+4_{\mathrm{P},\mathrm{P}}+4_{\mathrm{Cl},\mathrm{Cl}}=16$ electrons. The reaction is ligand substitution, not reduction of Ni(II).