KKR asked to double funds offer to £500m
Private equity firm KKR is understood to be under pressure to double a cash injection for Boots pensioners to about£500 million.

KKR acquired Alliance Boots, along with deputy chairman Stefano Pessina, for£11.1 billion last month. It is understood to be finalising a deal with the company's pension trustees before confirming takeover plans to shareholders this weekend.

According to sources, a pension agreement could be signed as soon as tomorrow. However, there is uncertainty as to how much KKR and Pessina should put into the health and beauty chain's retirement fund. KKR is thought to have made an offer of£250 million already.

However, the trustees, led by former Boots director John Watson, are believed to have asked for double that amount. The Alliance Boots fund, which is being revalued at present, is understood to be in deficit by about£200 million.

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