February 24, 2016 - News

Chemtura Corporation Signs Agreement to Purchase Pension Group Annuity Contract

Chemtura Corporation (NYSE:CHMT) (EURONEXT:CHMT) announced that it has entered into a purchase agreement with Voya Retirement Insurance and Annuity Company (“Voya”), for a group annuity contract that will transfer payment responsibility to Voya for retirement pension benefits owed to approximately 5,000 participants in the Chemtura Corporation Retirement Plan (the “Plan”). Evercore Trust Company, N.A., served as independent fiduciary for the Plan and was responsible for the selection of the insurance carrier. Evercore Trust retained Kilpatrick Townsend & Stockton LLP as its legal adviser, and Aon Hewitt Investment Consulting, Inc., an Aon Company, as its financial adviser, in connection with the engagement.

For further details on the transaction, click here for the Chemtura press release.