According to a latest report, Melrose Industries has opened talks with a number of insurers, including Aviva and Scottish Widows, about taking on one of GKN’s pension schemes.
A Melrose spokesman told Sky News: “Melrose has pledged to inject £1bn into the former GKN pension funds. That pledge will be met regardless of any other measures, such as buyouts from specialist providers to enhance the pensioner covernant. Any deal would depend on pricing.”
Exclusive: Melrose Industries is in talks with pension buyout specialists including Aviva and Scottish Widows about offloading a chunk of GKN's pension liabilities following its £8bn hostile takeover of the British engineering group earlier this year. https://t.co/ngoxILmg4D
— Mark Kleinman (@MarkKleinmanSky) August 31, 2018