LONDON, May 1, 2017 /PRNewswire/ -- 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." About AonAon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance. To learn more about the sale, please visit: www.aon.com/acceleratinginnovation Follow Aon on Twitter: https://twitter.com/Aon_plcSign up for News Alerts: http://aon.mediaroom.com/index.php?s=58 Media Contact:Donna MirandolaSenior Director, External CommunicationsAon [email protected] +1 312 381 1532 SOURCE Aon plc http://www.aon.com
Aon has completed the sale of its benefits and HR platform to AON-linked private equity funds for a cash consideration of $4.3bn. The deal is also worth up to another $500m based on future performance. Total proceeds, after tax, were about $3bn after customary working capital and other adjustments. Aon's president and CEO, Greg Case, commented: "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 need."