THE NETHERLANDS - ING Real Estate - the property arm of Dutch financial giant ING - has finalised a EUR736m investment in residential fund Vesteda.
Vesteda, and selling party Dutch pension giant ABP, have signed an agreement resulting in a 25% ownership by ING. All three parties first declared their intentions in September last year.
It is expected that the remaining 75% interest in Vesteda still owned by ABP will be sold as result of further participations, although ABP has stated that it would like to retain a minority interest in Vesteda of around 25%.
By Madhu Kalia
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers