31st Aug 2018 16:56
LONDON (Alliance News) - Melrose Industries PLC are talking to insurers, including Aviva and Scottish Widows, about the possibility of taking on the smaller of GKN's two retirement schemes, according to Sky News.
Sky News is reporting that discussions have been ongoing for several weeks with the insurers who specialise in pension risk transfer.
Melrose are only interested in offloading the GBP500 million worth of liabilities if it can secure an "attractive price".
The FTSE 100-listed company will still keep a hold of the larger of GKN's two pension schemes, which it has promised to inject up to GBP1.00 billion of cash into.
https://news.sky.com/story/melrose-in-talks-about-offloading-500m-gkn-pension-scheme-11486688
Shares in Melrose closed down 2.2% Friday at 222.90 pence each.
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