--United Utilities has struck a pension risk transfer deal with insurer Legal & General worth 1.8 billion pounds ($2.31 billion), Sky News reports, citing unnamed sources.

--Under the agreement, the London-listed water utility will offload a large part of its pension liabilities and make future payments to pension scheme members, Sky News reports.

Full story: https://tinyurl.com/2378fajd

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

July 11, 2023 01:48 ET (05:48 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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