NEW YORK--(BUSINESS WIRE)--
Marsh & McLennan Companies, Inc. (MMC) is providing this update regarding the European Commission’s (EC) Phase 1 review of MMC’s acquisition of Jardine Lloyd Thompson Group plc (JLT). On March 1, MMC and JLT formally committed to divest JLT’s aerospace practice to address a potential overlap in this area.
Today, MMC and JLT entered into an agreement to sell the aerospace business, including the transfer of its personnel, to Arthur J. Gallagher & Co. This sale is subject to the EC’s approval.
Marsh & McLennan confirms that there are no discussions with the EC concerning any other aspect of the combined MMC-JLT business. Subject to remaining regulatory and UK High Court approvals, closing remains on track for the Spring of 2019.
About Marsh & McLennan Companies
Marsh & McLennan (MMC) is the world’s leading professional services firm in the areas of risk, strategy and people. The company’s approximately 65,000 colleagues advise clients in over 130 countries. With annual revenue of $15 billion, Marsh & McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading firms. Marsh advises individual and commercial clients of all sizes on insurance broking and innovative risk management solutions. Guy Carpenter develops advanced risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities. Mercer delivers advice and technology-driven solutions that help organizations meet the health, wealth and career needs of a changing workforce. Oliver Wyman serves as a critical strategic, economic and brand advisor to private sector and governmental clients. For more information, visit mmc.com, follow us on LinkedIn and Twitter @mmc_global or subscribe to BRINK.