Aon announced it has completed the sale of its benefits administration and HR business process outsourcing (BPO) platform to private equity funds affiliated with New York-based Blackstone for a cash consideration of $4.3 billion at closing, and an 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, Aon said in a statement.
The deal sharpens Aon’s focus “on delivering advice and solutions for clients, accelerates innovation and improves return on invested capital,” the broker added.
“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,” said Greg Case, president and chief executive officer, Aon.
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