Diageo bid to wipe out pensions deficit
27/03/2006 - 10:24:02British drinks firm Diageo, which owns Guinness, has agreed to pay an initial annual £100m (€146m) towards its UK pension scheme deficit.
The maker of Smirnoff vodka and Johnnie Walker whisky said the UK deficit was £653m (€948m) at the end of 2005 and would be paid off over seven years.
The first £100m (€146m) instalment will be paid after the pension trustees have made another assessment of the deficit at the end of this month.
