Aon is reported to be on the verge of selling its Aon Hewitt employee benefits, human resources and business consulting arm to business buyout firm Clayton Dubilier & Rice LLC for around £3.6bn.
Aon bought Hewitt Associates in 2010 for £3.9bn.
Russell Fradin, Aon Hewitt’s chief executive between 2006 and 2011, is an operating partner at CD&R and is reported to be engineering the acquisition. Reuters reports that CD&R has fought off competition from Blackstone Group, the private equity firm, to buy the organisation.
The deal would see the entirety of the benefits business, including DB and DC pensions, healthcare and group risk, transferred to new ownership.
Aon is believed to be looking to conclude the sale by February 2017. Aon has declined to comment on the matter.