UK/NETHERLANDS/US - Engineering giant Invensys has sold off its Dutch software solutions subsidiary Baan as part of a move to plug its debts, including a £931m (e1.3bn) pension fund deficit in the UK.
The moves follows a further downgrade by ratings agency Moody’s. Invensys, which already has junk status, has had its rating cut from Ba1 to Ba3 with a negative outlook in light of its pension fund...
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