Kvaerner counters allegations of pensions plot

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NORWAY/UK - Kvaerner, the Norwegian conglomerate, has shot down allegations that it is trying to skirt its UK pension obligations on the back of the management buy-out of its British subsidiary earlier this year.

Kvaerner UK was sold to management just days before the Pensions Act came into force in April this year. Under the new regulations, if subsidiaries are sold with underfunded pension schemes, the...

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