Indian steelmaker Tata Steel says it would inject £126m (€188m) into the Corus pension fund as part of its multi-billion pound takeover bid.  Tata said it has held “constructive and satisfactory” discussions with the two main UK pension schemes of the Anglo-Dutch steelmaker, itself the product of an earlier merger between British Steel and Hoogovens.  Tata says it plans “to fund upfront the IAS 19 deficit on the Corus Engineering Steels Pension Scheme by paying £126m into the scheme”. It would also increase the contribution rate on the British Steel Pension Scheme from 10% to 12% until March 31 2009.
India’s Tata would inject €188m

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