Pensions Corporation, Edmund Truell's pensions buyout venture, is understood to be expecting talks with the newly-appointed independent trustees of the pension scheme of former UK industrial conglomerate GEC Marconi, as its £398m (€585m) bid to acquire the fund's sponsor proceeds.

At the end of last week the Pensions Regulator said it would appoint three neutral expert advisers to the fund's trustee board to safeguard the members of the £3bn scheme; Law Debenture Pension Trust Corporation, Burges Salmon Pension Trustees and Bridge Trustees.