June 2, 2017 / 10:47 AM / 3 months ago

Britain's regulator agrees deal over Hoover pension scheme

LONDON, June 2 (Reuters) - The Pensions Regulator, which regulates Britain's workplace pension schemes, said on Friday it had reached a deal with Hoover Ltd that is expected to see its pension scheme enter the Pension Protection Fund.

Under the deal, Hoover will pay 60 million pounds ($77.14 million) into the scheme, which has 7,500 members. The scheme will also receive ordinary shares representing a 33 percent stake in Hoover, TPR said in a statement.

$1 = 0.7778 pounds Reporting by Simon Jessop; editing by Maiya Keidan

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