Honeywell International will take on the bulk of Melrose Industries' defined benefit (DB) pension schemes with the £3.3bn acquisition of its Elster business.
According to Melrose' interim results - published yesterday - the schemes being transferred have combined liabilities of £882m and an accounting deficit of £134m. Honeywell's UK arm will becom...
To continue reading this article...
Join Professional Pensions
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date
