Corporate transactions
A corporate transaction can have a material impact on the employer covenant. Trustees will want to ensure that the scheme is not disadvantaged by such activity where it could result in the employer being less able to support the scheme.
Examples of corporate transactions are:
- Sales and acquisitions of companies and assets
- Debt refinancings
- Corporate restructurings
- Dividend payments
- Share buy-backs
We have been involved in a large number of corporate transactions including many high profile situations. We use our considerable corporate finance and restructuring expertise to advise trustees on the impact of transactions and to propose appropriate mitigation, where applicable. We can also assist trustees in their mitigation discussions with employers and in liaising with the Pensions Regulator.