Germany added to Sanofi pension fund in Belgium cross-border first

Sanofi European Pension Fund has become the first Belgium-based pension fund to begin operating cross-border activity in Germany, with two Hoechst companies coming on board. The development means that the liabilities associated with more than 5,000 pensioners of Hoechst GmbH and Hoechst Trevira Gmbh are being funded via Sanofi European Pension Fund. Hoechst AG was one of the three largest chemical and pharmaceutical companies in Germany before merging with Rhône-Poulenc in 1999 to form Aventis, which was subsequently taken over by...