Aon Completes Sale of Outsourcing Platform

Aon plc (NYSE: AON) today announced that it has completed the sale of its benefits administration and HR BPO platform to private equity funds affiliated with Blackstone for cash consideration of $4.3 billion at closing, and additional consideration of up to $500 million based on future performance. Total after-tax cash proceeds were approximately $3.0 billion after customary working capital and other adjustments.

“The completion of this transaction reinforces our position as the leading global professional services firm providing a broad range of risk, retirement and health solutions,” said Greg Case, president and chief executive officer, Aon plc. “The incremental capital we have generated allows us to accelerate investment in our proprietary data and analytics capabilities and pursue new opportunities to address emerging client needs, similar to recent acquisitions in the cyber risk advisory and health solutions space.”
Source: http://www.prnewswire.com

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