Aon to Sell US Retirement and Retiree Health Businesses in $1.4 Billion Deal
The firm is seeking regulatory approval from the US DOJ for its heavyweight merger with Willis Towers Watson by divesting parts of its business.
Aon is seeking regulatory approval from the US Department of Justice for its landmark merger with Willis Towers Watson by selling off its US retirement and retiree health insurance brokerage businesses in a $1.4 billion transaction.
The firm’s entire US retirement business will be sold to asset manager Aquiline, a $6.4 billion investment firm, and its Aon Retiree Health Exchange platform will be sold to business services provider Alight, Aon disclosed Thursday.
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LONDON (dpa-AFX) - Aon plc (AON) said that it agreed to sell its U.S. retirement business to Aquiline and its Aon Retiree Health Exchange business to Alight for total gross consideration of $1.4 billion.
Aon noted that the agreements are intended to address certain questions raised by the U.S. Department of Justice in relation to the combination with respect to the markets in which these businesses are active.
Aon and Willis Towers Watson continue to work toward obtaining regulatory approval in all relevant jurisdictions.
The U.S. retirement business Aquiline will acquire includes approximately 1000 colleagues and the agreement includes U.S. core retirement consulting, U.S. pension administration and the U.S.-based portion of Aon s international retirement consulting business, along with many solutions and tools.
Aon Signs Agreements to Sell its U.S. Retirement Business to Aquiline and its Aon Retiree Health Exchange Business to Alight Transactions provide further momentum on path to close proposed
Aon plc (AON) to Sell U S Retirement Business and Retiree Health Exchange Business for $1 4B streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Aon to Sell U.S. Retirement, Retiree Health Units for $1.4B to Smooth WTW Acquisition June 3, 2021
Global insurance broker Aon has agreed to sell its U.S. retirement business to private investment firm Aquiline and its Retiree Health Exchange individual health insurance business to Illinois-based digital services firm Alight for total gross consideration of $1.4 billion.
Aon said the sales are intended to address certain questions raised by the U.S. Department of Justice with respect to Aon’s proposed $30 billion takeover of rival Willis Towers Watson, creating the world’s largest insurance broker.
Aon and Willis Towers Watson said they continue to work toward completing the proposed merger as soon as possible in the third quarter of 2021.