Booker Tate has completed a pension insurance buyout for its defined benefit (DB) pension scheme.
The transaction, carried out in conjunction with Pension Insurance Corporation (PIC), covers £20 million of pension liabilities.
The organisation, which provides development, management and technical services to the sugar, ethanol and bio-energy market, was advised by Barnett Waddingham and Linklaters.
Ben Yates, chairman of trustees for the Booker Tate UK pension scheme, said: “Following a competitive tendering process, we decided to insure with PIC as a result of its competitive terms, flexibility in meeting the trustees’ requirements and the security that the buyout will bring to the scheme members.”
