Marsh & McLennan Companies, Inc. reported that it has completed the sale of Putnam Investments to Great-West Lifeco Inc., a financial services holding company controlled by Canada-based Power Financial Corp.
Under terms of the agreement, MMC sold Putnam Investments to Great-West Lifeco for $3.9 billion in cash. After accounting for taxes and minority interest, MMC will net approximately $2.5 billion in cash proceeds.
Source: Marsh & McLennan Companies, Inc.
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