M&S unveils 'novel property deal'

Retailer Mark & Spencer has unveiled a property deal through which the company will inject £500 mln (EUR 757 mln) into its final-salary pension fund. The retailer, headed by Stuart Rose, said it would transfer assets valued at about £1.1 bn (EUR 1.66 bn) to a partnership with pension trustees in a move to cut a pension scheme deficit of £704 mln (EUR 1.066 bn).

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