Macfarlanes advises Legal & General on c.£650m buy-in with Mitchells & Butlers Executive Pension Plan

21 December 2021

Macfarlanes has advised long-standing client Legal & General on its c.£650m buy-in for the members of the Mitchells & Butlers Executive Pension Plan.

This is the first pension risk transfer transaction for the plan sponsor, London-listed Mitchells & Butlers Plc, a company which operates many of the UK’s restaurants, pubs and bars, including Harvester, Toby Carvery and All Bar One.

The Macfarlanes team was led by insurance partner Andrew Barton alongside senior solicitor Madison Isted.

Madison Isted comments: “We are really pleased to have assisted Legal & General once again on their latest pension scheme buy-in and to have worked collaboratively with all those involved to ensure a smooth negotiation and execution.”