Both deals are worth multiple billionsRaft of Firms Act On Pension Insurance Giant's Multibillion-Pound Pair of Deals
Rothesay Life has embarked on an ambitious pension transfer deal and a pension de-risking deal in the space of two days.
September 27, 2019 at 05:24 AM
2 minute read
Linklaters, CMS, DLA Piper and Gowling are advising on two deals totalling £8.5 billion, being undertaken by pension insurer Rothesay Life.
Yesterday (September 26), the insurer agreed to a £4.7 billion buyout of the legacy General Electric Company (GEC) pension scheme from current scheme-holder Telent and the pension trustees.
According to Rothesay, the deal will be the largest full scheme buyout ever undertaken in the U.K. The deal is expected to be completed by 2022.
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