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Kodak sells imaging businesses to UK pension plan

April 29, 2013

The Eastman Kodak Co. announced an agreement to sell its personalized and document imaging businesses to its U.K. pension, the Associated Press reported. The plan is part of an agreement that settles $2.8 billion in claims that the retirement fund sought to recover from the 133-year-old company.

Kodak said that it is selling the businesses to the U.K. Kodak Pension Plan for $650 million as it continues to emerge from Chapter 11 bankruptcy protection. The company intends to focus on commercial and packaging printing.

"In one comprehensive transaction, Kodak will realize its previously announced intention to divest its Personalized Imaging and Document Imaging businesses and settle its largest legacy liability," Kodak CEO Antonio Perez said in a statement. "We are very pleased with the transaction, the value it creates for our stakeholders, and the dedication and creativity of KPP that made it possible to achieve this extraordinary result."

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