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Kodak Sells Imaging Businesses To Pension Fund - Kodak has announced that it is selling two of its imaging businesses to its UK pension fund for $650 million.
Kodak has announced that it is selling two of its imaging businesses to its UK pension fund for $650 million.
The payment settles the pension fund's claims of $2.8 billion against Kodak. The two businesses sold are document imaging, which makes scanners for enterprise customers, and personalised imaging, which includes its retail printing koisks and most other consumer products.
In a news release, Kodak said "The Regulator has decided that it will approve the release of Kodak Limited, the KPP [Kodak Pension Plan]’s sponsoring employer, from its liabilities to the KPP and the UK Pension Protection Fund has confirmed that it has no objection."
For more information, take a look at the Kodak press release.