Arthur J Gallagher is to buy Jardine Lloyd Thompson’s (JLT) aerospace business in a deal which is set to go through when the Marsh & McLennan Companies’ $5.6bn (£4.3bn) purchase of JLT is finalised in the Spring.
The transaction, for £190m, is subject to approval by the European Commission.
According to a statement from JLT the divestment move has been made in order to address European Commission concerns about potential overlap in aerospace following JLT’s acquisition.
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