BRADFORD (dpa-AFX) - Morrison(Wm.)Supermarkets PLC (MRW.L) said its Board is pleased that the Pension Scheme Trustees and CD&R have now reached an agreement, which safeguards the interests of the members of Morrisons' pension schemes. The Trustees consider that the package of mitigation measures, once contractual details are finalised, will provide sufficient support for the Schemes.
The package of measures includes additional security to be contributed to the existing pension funding partnership structure in the form of further properties with an appropriate release mechanism to allow for a gradual release of that additional security as the Schemes progress towards 'buy out', together with enhanced governance provisions in respect of the Schemes.
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