Jardine Lloyd Thompson to Sell Aerospace Business to Arthur J. Gallagher
04 3월 2019 - 7:49PM
Dow Jones News
By Adam Clark
Insurance brokerage Jardine Lloyd Thompson Group PLC (JLT.LN)
said Monday that it will sell its aerospace business to Arthur J.
Gallagher & Co. (AJG) for 190 million pounds ($250.8 million)
to satisfy competition concerns over JLT's sale to Marsh &
McLennan Cos. (MMC).
The sale was a measure put forward by Marsh & McLennan to
the European Commission and remains subject to regulatory approval.
In September, JLT agreed to a $5.7 billion takeover by Marsh &
McLennan, forming a global insurance broker with $17 billion in
annual revenue. The deal is set to complete in spring this year.
Marsh & McLennan said no other aspect of the deal is under
discussion with the European Commission.
The aerospace business has approximately 250 staff in 15
countries, and made a pretax profit of GBP12 million on revenue of
GBP65 million in 2018, JLT said.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
March 04, 2019 05:34 ET (10:34 GMT)
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