(RTTNews) - 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.
The agreement with Aquiline does not include Aon's non-U.S. actuarial, non-U.S. pension administration or international retirement businesses based outside of the U.S.
All of the announced regulatory divestitures are contingent on the completion of the pending Aon and Willis Towers Watson combination, as well as other customary closing conditions. While Aon and WTW are working toward completing the proposed combination as soon as possible in the third quarter of 2021.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
