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Old 10th Apr 2006, 01:32
  #511 (permalink)  
PAXboy
Paxing All Over The World
 
Join Date: May 2001
Location: Hertfordshire, UK.
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Another company has taken a bold step to repair it's pension plan.

BBC Compass sells its retail business
Catering giant Compass has agreed to sell its Upper Crust to Moto retail business for £1.82bn ($3.2bn).

The unit, which operates outlets across railway stations and airports, and runs motorway service stations, is being split and sold to two separate firms.

Private equity group EQT Partners is to buy the airports and railway business, while Macquarie Bank is taking over the Moto motorway service station arm.

Compass first unveiled plans to sell the units last autumn.

It said it planned to return £500m from the sale proceeds to shareholders, and make an additional £275m contribution to its pension plan.



Here is a company that has sold off assests to both return cash to shareholders and to pay into it's pension fund. These examples of companies that are 'doing the decent thing' should be noted. It's clear from the article that the pension fund is not the sole reason for the action but an important one.
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