Linklaters and Macfarlanes have advised on insurance company Legal & General’s (L&G) agreement to take on the remainder of Tate & Lyle’s pension scheme for £930 million.

L&G has agreed a full buy-in for the rest of the food and drink company’s pension members, following its first investment in 2012 of £350 million.

The new buy-in means that all scheme members are now covered by L&G, with the pot valued at about £1.2 billion.

Macfarlanes is acting for longstanding client L&G with a team headed up by corporate insurance partner Andrew Barton. Barton led for L&G last year on its £285m bulk annuity transaction with a Fortune 500 firm.