Marsh & McLennan Companies (MMC) are to sell Jardine Lloyds Thompson’s (JLT) aerospace insurance business, in a bid to ease regulatory concern over the planned merger.
MMC are in the process of buying smaller British rival JLT, worth £4.3bn.
The two firms are to sell the aerospace business, to US peer Arthur J Gallagher & Cp for £190m to “address a potential of overlap” of services.
The takeover by MMC of JLT are currently being reviewed by the European Commission however, the deal is lined up for the close of spring.
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