This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
Fitch Ratings has reacted positively to the proposed sale of certain Willis Towers Watson (WTW) business units to Arthur J Gallagher for $3.6bn, as announced earlier this week. Fitch views the planned divestiture of certain WTW reinsurance, specialty and retail brokerage operations as neutral to the credit ratings of both Willis and Aon. The divestiture of WTW assets is intended to remove regulatory objections to the $30bn merger between the two broking firms. Fitch forecasts Aon’s pro-forma revenues, post the planned divesture, at $19bn, with earnings of more than $5.5bn. Given the scale of the transaction, integration and execution risk will be high, Fitch said. Aon is “strongly positioned” at the BBB+ rating category, with or without the deal closure, Fitch added.
The rest of this document is only available to i-law.com online
If you are already a subscriber, please enter your details below to log in.