AON - AON agrees to sell U.S. retirement business as it works to get antitrust approval for Willis Towers deal

AON plc (AON) said it agreed to sell its U.S. retirement business to Aquiline and its AON Retiree Health Exchange business to Alight for $1.4B.The sales are intended to address certain concerns raised by the U.S. Dept. of Justice in regards to AON's planned purchase of Willis Towers Watson (WLTW), according to a statement. AON and Willis Towers are working on completing the deal "as soon as possible" in Q3.The U.S. retirement business Aquiline will acquire includes approximately 1000 colleagues and the agreement includes U.S. core retirement consulting, U.S. pension administration and the U.S.-based portion of Aon's international retirement consulting business. The agreement with Aquiline does not include Aon's non-U.S. actuarial, non-U.S. pension administration or international retirement businesses based outside of the U.S. Last month as part of efforts to get the deal approved in Europe, Aon and Willis Towers confirmed a deal to sell assets to Arthur J. Gallagher for $3.57B. In addition last month, AON agreed to sell retirement and investment

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AON agrees to sell U.S. retirement business as it works to get antitrust approval for Willis Towers deal