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Aon P.L.C. is reportedly looking to sell its benefits outsourcing unit for $5 billion in an effort to focus more on its insurance and risk management business.
According to a Reuters report, the deal would undo much of Aon’s $4.9 billion purchase of Hewitt Associates in 2010.
Aon is working with investment bank Morgan Stanley on the sale of the unit, which has attracted interest from private equity firms, the report said citing “people familiar with the matter.”
The deal negotiations are complex and could take several more weeks, the report said. The unit has 12-month earnings before interest, taxes, depreciation and amortization of close to $500 million, Reuters said.
Aon did not immediately return calls seeking comment.
LINCOLNSHIRE, Ill.—Aon Corp. and Hewitt Associates Inc. said Friday that they expect Aon’s acquisition of Hewitt to be completed on or about Oct. 1.