Sackers advises Honda Motor Europe on £800m buy-in

The Honda Group – UK Pension Scheme, sponsored by Honda Motor Europe Limited, has successfully concluded a £800m buy-in with L&G, securing the retirement benefits of over 1,700 retirees and over 3,000 deferred members. Sackers advised the sponsoring employer of the scheme, along with EY and Isio.

Ian Howells, Executive Vice President at Honda Motor Europe, said: “Sackers provided us with clear, commercial and pragmatic advice throughout the transaction. They worked collaboratively with all the key stakeholders, drawing on their knowledge of Honda Motor Europe, built up over many years, and combining it with extensive risk transfer experience to meet our objectives.“

Partner Fuat Sami added: “As longstanding advisers to Honda, we were delighted to be part of the adviser team on this transaction. We worked collaboratively with the sponsor, trustees and their respective advisers to deliver a fantastic outcome within a very tight timeframe.”

The Sackers team comprised partners Fuat Sami and Vicky Carr, associate director Liam Goulding, senior associates Hannah Savill and Paige Lury and associate Susannah Hill.