Boots Group PLC, Nottingham, England, will contribute £85 million ($146.1 million) to its pension fund from the proceeds of its roughly £1.9 billion proposed sale of Boots Healthcare International, according to a statement posted on the company's website today. The contribution will make up the company's pension shortfall, according to the statement.
Boots Group's pension fund had about £3.01 billion in total assets as of March 31, according to the company's annual report. The U.K. pension fund had an £83 million deficit at March 31, the end of the fiscal year, according to the annual report.
Boots spokesman Donal McCabe was unavailable for comment by press time.