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Tata Steel Reportedly Preparing to Announce Deal on U.K. Pension Plan
08/09/2017 - Tata Steel and U.K. officials are hoping to announce on Friday that they’ve reached a deal to separate Tata Steel from its legacy British Steel pension fund, a move that would potentially allow the company to combine its European strip business with thyssenkrupp AG's steel division.
Citing sources close to the talks, Europe’s Sky News said Tata has struck what’s called a Regulated Apportionment Agreement, which allows distressed companies to sever liabilities tied to a defined benefit pension plan.
Sky News has the story here.
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