Aon Corporation announced it has reached a definitive agreement to sell Aon Warranty Group (AWG) and its worldwide operations to Onex Partners, an affiliate of Onex Corporation, a company headquartered in Toronto, Ontario. Among the AWG businesses to be sold to Onex is Virginia Surety Company.
The acquisition is subject to customary conditions, including the receipt of required regulatory approvals, and is expected to close in the fourth quarter of 2006. Terms of the sale were not disclosed.
Source: Aon Corporation