600 Group enters £201m buyout with PIC

Victoria Tichá
clock
The 600 Group PLC is a diversified engineering group that manufactures and distributes machine tools, precision engineered components and industrial laser systems
Image:

The 600 Group PLC is a diversified engineering group that manufactures and distributes machine tools, precision engineered components and industrial laser systems

Trustees of the 600 Group's defined benefit (DB) pension scheme have agreed to a £201m buyout with Pension Insurance Corporation (PIC).

The deal covers liabilities of around 1900 pensioners and 700 deferred members. The trustees were advised by Mercer, Aon, and Womble Bond Dickinson, while PIC was advised by Clifford Chance. 600...

To continue reading this article...

Join Professional Pensions

  • 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

Join now

 

Already a Professional Pensions member?

Login

More on Investment

Industry Voice: Does your current pension scheme offer value for members?

Industry Voice: Does your current pension scheme offer value for members?

Evolve Pensions
clock 06 July 2022 • 4 min read
The latest market news and analysis

Market Movers: Pound sinks to pandemic low

Boris Johnson faces another revolt after the resignations of Rishi Sunak and Sajid Javid

Investment Week
clock 06 July 2022 • 1 min read
Sustainable Investment Festival 2022: Live Blog

Sustainable Investment Festival 2022: Live Blog

The latest from this year’s festival

Professional Pensions
clock 05 July 2022 • 1 min read
Trustpilot