Established gambling operator Rank may be set to sell off their pension fund this year, following interest from several potential buyout groups.
A spokesperson for Rank, who owns the Mecca bingo chain, has denied that any kind of auction is in place. He reportedly commented: "This is a hugely complex area that requires a lot of actuarial work before a decision can be taken."
Potential buyers include Legal and General, Prudential and Goldman Sachs. Experts in the pensions sector indicate that as much as £5 billion worth of company pensions could be ready to sell.
Numerous mid-sized schemes could be put on the market and purchased by FTSE 100 companies . Numerous household name companies are thought to be considering buying out pensions funds .
Rank may sell their pension fund
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Rank may sell their pension fund
Mon, 03 Sep 2007
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