BUZZ-Eastman Kodak surges after plan to end US pension plan

Reuters2024-11-25

** Eastman Kodak's KODK.N shares rise 25.21% to $6.60 in morning trade

** KODK, best known for photographic films products, says in a filing it is considering terminating its U.S. pension plan

** Co to sell certain illiquid assets of the Kodak Retirement Income Plan, valued at $764.4 million, to Mastercard Foundation for $550.6 million

** Kodak aims to gain between $530 million and $585 million after selling illiquid assets, resolving liabilities, and replacing the existing pension plan with a new one

** Kodak estimates surplus assets between $885 million and $975 million after satisfying KRIP liabilities

** As of last close, shares up ~68% YTD

(Reporting by Rupali Chaudhary in Bengaluru)

((Rupali.Chaudhary@thomsonreuters.com))

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