UK - Citi has agreed to buy out the Thomson Regional Newspaper Pension Fund.
In a statement Citi said it had reached an agreement to acquire the UK sponsor company for the Thomson Regional Newspaper Pension Fund in October 2007.
This acquisition will result in the transfer of the sponsor and its financial responsibility for the fund to a Citi subsidiary.
The £200m fund has been closed to new members for over 10 years, but will continue to be run under UK pensions legislation by a board of trustees.
Citi has become the next player in the lucrative pension buyout industry, and earlier this year AEGON and UBS Global Asset Management joined forces in the UK to launch a buy-out solution aimed at schemes with liabilities in excess of £300m.
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