International broker Aon is reportedly nearing a deal to sell its employee benefits outsourcing business to New York-based private equity firm Clayton Dubilier & Rice LLC.
Citing people close to the matter,
Reuters reported that Aon is in advanced discussions with the buyout and acquisitions specialist for a deal worth nearly US$4.5 billion (about £3.6 billion).
Aon is hoping to announce the deal by February 10 when it reveals its earnings for the fourth quarter of 2016, the report added.
The insiders, however, also told
Reuters that the outcome of the ongoing talks may still change.
Want the latest insurance industry news first? Sign up for our completely free newsletter service now.
According to the news agency, the Aon division for sale facilitates the processing of claims for companies, including health and welfare administrative services.
Reuters noted that the potential divestiture would signal the broker’s intention to focus more on its insurance and risk management businesses.
Aon has been refusing to comment since the supposed sale talks were first reported in December, 2016.
The company only said in a previous statement that it was “always exploring opportunities that enable us to accelerate innovation on behalf of our clients.”
Related stories:
Aon completes Admix acquisition
Aon launches Brexit Navigator
Aon eyes sale of £3.9 billion division – report
