CD&R Inks Pensions Package With Morrisons Trustees
By Irene Madongo (September 14, 2021, 4:14 PM BST) -- A private equity firm bidding to buy Morrisons said Tuesday that it has reached a deal with the supermarket giant's pension schemes that will ensure they are among the "best-funded" in the country.
Clayton, Dubilier & Rice LLC and the U.S. firm's takeover vehicle, Market BidCo Ltd., said they have agreed with the trustees of Morrisons Retirement Saver Plan and the Safeway Pension Scheme that more security should be contributed to the existing funding structure by increasing the number of properties in their portfolio.
The deal was agreed after the trustees raised concerns in August that the potential takeover of the British supermarket chain could...
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