GERMANY - BMW has denied media reports claiming it planned to use a Contractual Trust Agreement (CTA) to take pension liabilities off the balance sheet.
An industry source claimed last week the car maker had already been listening to pitches from financial service providers in order to remove up to e2.6bn in pension liabilities.
However BMW spokesman Marc Hassinger told Global Pensions the reports were untrue.
“BMW Group has no plans to use a CTA or other means to take pension liabilities out of the balance sheet.” He also said the company would not be issuing a formal statement.
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