GPG pension woes drag as Coats unit returns to profit

Mon, 24 Feb 2014

By Paul McBeth Feb. 25 (BusinessDesk) - Guinness Peat Group, the cash-rich owner of thread-making business Coats, is still muddling through arrangements for its UK pension obligations before returning capital to shareholders, while reporting its Coats unit returned to profit in 2013. The investment company, which attracted investors including billionaire George Soros, is still in talks with the UK Pensions Regulator as to whether it will have to provide more financial support to its Coats pension schemes, and is exploring its options, chairm...

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