SOUTH AFRICA - A consortium involving the Ontario Teachers' Pension Plan (OTPP) has had a purchase offer of ZAR6bn (US$850m) accepted by South African glass manufacturer Consol.
Other partners involved in the deal were Ethos Private Equity Fund, Sphere Private Equity Fund I, Sphere Investments and Sanlam Life Insurance.
The news comes just two weeks after the OTPP announced an agreement with Orient Overseas of Hong Kong to purchase four marine container terminals in North America for $2.4bn.
The US$84bn fund said the assets would be held within the pension plan’s infrastructure and timber portfolio, which totalled US$6.5bn after the acquisition.
A buyout tool which provides schemes with up-to-date pricing and comparisons between insurers has been launched by JLT Employee Benefits.
The DB white paper sets out plans to review the funding regime, with 'prudent' and 'appropriate' possibly redefined. But James Phillips asks if this could this signal a return to an MFR-like approach?
The trustees of GKN's pension schemes have agreed a package of mitigation measures that would improve funding to a "more prudent level" if Melrose's offer is accepted by shareholders next week.
While the new powers are welcome, most respondents doubt it will make a difference to the outcomes for members, Pensions Buzz respondents say.