Aon to sell pension, investment consulting units in Germany to LCP
Aon agreed to sell its pension consulting, pension administration and investment consulting businesses in Germany to consultant Lane Clark & Peacock as the firm seeks to secure clearance from the European Commission for its merger with Willis Towers Watson.
In a news release Monday, Aon said the deal with LCP “resolves questions raised by the European Commission with respect to the markets in which these businesses are active.” The commission has been investigating competition issues related to the Aon-WTW merger since December.
WTW and Aon announced plans to merge in March 2020. The all-stock $30 billion deal aims to create an $80 billion firm.
The transaction with LCP is due to close later this year — at the same time as the completion of the deal between Aon and WTW, the LCP spokeswoman said. Both transactions are still subject to approvals by the European Commission.
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