New plan for whisky

LONDON - Diageo, the world's biggest maker of alcoholic drinks, said yesterday that it would transfer more than two million barrels of whisky into its UK pension fund to help plug an £862million (about R9,9billion) deficit.

LONDON - Diageo, the world's biggest maker of alcoholic drinks, said yesterday that it would transfer more than two million barrels of whisky into its UK pension fund to help plug an £862million (about R9,9billion) deficit.

Diageo revealed that it had reached agreement with pension fund trustees over a 10-year plan to address the deficit.

The group will pay £197million (about R2,2billion) into the pension scheme, and set up an innovative partnership to hold 2,0 to 2,5 million barrels of maturing whisky. - Sapa-AFP

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