Eastman Kodak's pension plan board has sold a portfolio of illiquid assets to the Mastercard Foundation, indicating a move towards restructuring the fund. The company is now considering winding down the remainder of its U.S. pension fund.
This strategic consideration aims to tap into a substantial surplus that the fund has accumulated over the years, estimated to be around $1 billion. Kodak expects to book a gain of more than $500 million from the termination of its U.S. pension plan.
The potential proceeds from this termination are anticipated to provide a significant financial boost, allowing Kodak to unlock value from the fund. This move is expected to strengthen the company's financial position by providing substantial cash resources.
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