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Tata Steel plans $663 mn payout to settle pension dues

Tata Steel plans $663 mn payout to settle pension dues

Wednesday, April 19, 2017, 6:45 AM

Tata Steel is planning to write a cheque of 520 million pounds ($663 million ) to its UK pensioners as a one-time settlement under a new and rare scheme called the Regulated Appointment Arrangement (RAA), said multiple sources aware of the development. The company is finalising its terms with the British regulators to clear all its pension liabilities.
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