Aga, a UK oven manufacturer, is injecting cash into its pension fund to push ahead the sale of its bakery equipment subsidiary. However, the company is not planning to divest the £770m (€1.1bn) scheme, despite having Duke Street Capital, the former employer of pensions buyout entrepreneur Edmund Truell, as its largest shareholder.

Aga has stumped up £32.5m to ensure the security of its pension fund in order to get the £260m sale of its bakery equipment unit away.

Mark Cobley

Citigroup

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Pension scheme crucial to Aga unit sale

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