Asda owner Walmart offloads pension liabilities as it eyes float
Asda’s owner Walmart has signed a deal to offload nearly £4bn of the UK grocer’s pension liabilities, clearing the path for a stock market flotation.
Walmart and Asda’s pension trustees have agreed a deal with Rothesay Life – a specialist in corporate retirement schemes – worth £3.8bn.
The deal, first reported by Sky News, could mark an important step towards a demerger and subsequent stock market float following Asda’s failed attempt to merge with Sainsbury’s.
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