Close Brothers Corporate Finance (“Close Brothers”) has today warned that the volume of mergers and acquisitions in the UK in 2005 could be held back because of a reluctance by private equity firms to work with companies that have pension shortfalls. There are also separate concerns that there is a ‘knowledge deficit’ amongst company bosses of the future role of the new Pensions Regulator.
According to Close Brothers, the majority of the owners of companies including institutional shareholders, directors and private equity investors have limited understanding of the implications of the new Pension Act 2004 which has led to the replacement of OPRA with The Pensions Regulator (effective 6 April 2005).
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