Half Year Results 

To Xafinity and beyond

To Xafinity and beyond

The maturity of 'defined benefit' pension schemes is a pressing issue for many companies, especially where those schemes are burdened by funding deficits. It’s against this backdrop that Xafinity (XAF) is substantially scaling up its business, announcing plans to acquire the actuarial, administration and investment consultancy businesses of rival Punter Southall for up to £153m. Xafinity will pay £92.5m in cash, funded by placing more than 41m new shares at 170p each. In addition, it will transfer its HR Trustees business to Punter Southall’s parent group for £8.5m.

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