February 5, 2019 / 5:45 PM / 3 months ago

Apollo signs memorandum with pension scheme of Britain's RPC Group

(Reuters) - Apollo Global said on Tuesday it signed a memorandum of understanding (MoU) with the trustees of the RPC Containers Limited Pension Scheme, after Apollo agreed to buy packaging products maker RPC Group last month.

Private equity firm Apollo, which offered for 3.3 billion pounds ($4.3 billion) for RPC, said the MoU ensured the pension scheme would not be affected by the acquisition. Under the MoU, Apollo agreed to make cash contributions of 5.2 million pounds ($6.73 million) a year to the scheme for five years and nine months.

Berry Global Group is considering making a rival offer for RPC Group.

Reporting by Noor Zainab Hussain in Bengaluru; Editing by Edmund Blair

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