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BRIEF-MillerCoors Purchases Group Annuity Contract to Secure Pension Benefits
December 1, 2017 / 10:11 PM / in 9 days

BRIEF-MillerCoors Purchases Group Annuity Contract to Secure Pension Benefits

Dec 1 (Reuters) - Molson Coors Brewing Co

* MOLSON COORS BREWING CO - CO’ UNIT MILLERCOORS LLC, CLOSED ON AN AGREEMENT TO PURCHASE A GROUP ANNUITY CONTRACT FROM ATHENE ANNUITY AND LIFE COMPANY

* MOLSON COORS BREWING - STARTING MAY 1, 2018, ATHENE WILL BEGIN MAKING BENEFIT PAYMENTS TO PLAN PARTICIPANTS ALONG WITH PROVIDING ADMINISTRATIVE SERVICES

* MOLSON COORS BREWING CO - BY TRANSFERRING PENSION OBLIGATIONS TO ATHENE, MILLERCOORS WILL REDUCE PENSION PROJECTED BENEFIT OBLIGATION BY OVER $900 MILLION

* MOLSON COORS BREWING CO - UNDER DEAL PLAN PARTICIPANTS WILL RECEIVE SAME MONTHLY BENEFIT THEY WERE PREVIOUSLY RECEIVING FROM PLAN

* MOLSON COORS BREWING-UNDER AGREEMENT, ATHENE WILL ASSUME FROM MILLERCOORS PENSION PLAN OBLIGATIONS TO PAY FUTURE PENSION BENEFITS Source text for Eikon: Further company coverage:

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