Amcor PLC, London, entered an agreement with Pacific Life Insurance Co. to transfer about $190 million in U.S. pension plan liabilities.
The agreement, signed Oct. 12, also transfers $190 million in assets, according to a 10-Q filing with the SEC on Thursday.
The filing did not disclose which plan is affected by the buyout transaction. According to the company's most recent 10-K filing, Amcor sponsors three U.S. pension plans.
As of June 30, global pension plan assets totaled $1.759 billion, while projected benefit obligations totaled $2.022 billion, for a funding ratio of 87%, according to the 10-K filing.
Spokesman Mark Hein could not be immediately reached for further information.
