Aon signs definitive agreement to sell benefits administration and HR business process outsourcing (BPO) platform

Torys acted as Canadian counsel to Aon with a team that included Krista Hill, Nina Mansoori and Min Kim (M&A), Jerald Wortsman and Richard Johnson (tax), Don Roger and Andy Gibbons (real estate), Susan Nickerson and Brad Tartick (pensions & employment), Dany Assaf and Marina Chernenko (Investment Canada Act review and competition), Teresa Reguly and Molly Reynolds (IP and privacy).

On February 10, 2017, Aon plc announced that it signed a definitive agreement to sell its benefits administration and HR BPO platform to Blackstone for cash consideration of US$4.3 billion at closing and additional consideration of up to US$500 million based on future performance.

The transaction is expected to close by the end of the second quarter of 2017, subject to customary closing conditions, including receipt of specified antitrust clearances.

Aon is a leading global provider of risk management, insurance brokerage and reinsurance brokerage, and human resources solutions and outsourcing services.

Blackstone is one of the world's leading investment firms, with over US$360 billion in assets under management.

Further information can be found on Aon's website.