Alliance Boots Offers One-Time Pension Payment to Manage Risk

Oct. 12 (Bloomberg) -- Alliance Boots Holdings Ltd. said it offered pensioners and their dependents a one-time payment in return for giving up future increases linked to inflation on part of the pension.

The payments will allow the U.K.’s largest drugstore chain, acquired by KKR Inc. and partners for 12 billion pounds in 2007, to manage the pension “funding position and the risks associated with its pension liabilities more effectively,” the company said in a statement on its website.

To contact the editor responsible for this story: Sara Marley at smarley1@bloomberg.net