Linklaters advise the Trustee of the Tate & Lyle Group Pension Scheme on £930m buy-in with Legal & General
Linklaters pensions’ practice has advised the Trustee of the Tate & Lyle Group Pension Scheme, the global food and beverage ingredient supplier’s main UK pension scheme, on its recent £930m buy-in with Legal & General.
The transaction has ensured that the remaining members of the defined benefit scheme are now covered by Legal & General, following on from a previous £347m buy-in transaction that took place in 2012.
The multi-disciplinary team was led by counsel, Anna Taylor, and included Lorna Tennent, counsel, as well as managing associates Rebecca Fellas, Simon Borhan and Greg Palmer.
The firm’s pensions team has built a market-leading reputation for de-risking work, having recently advised the Trustees of both the Rolls Royce UK Pension Fund and the British American Tobacco UK Pension Fund on their bulk annuity transactions.