Aon has completed the sale of...
Aon has closed the sale of Aon Warranty Group (AWG) and its worldwide operations to Warrior Acquisition, an affiliate of Onex Corporation, and the sale of Construction Program Group (CPG) to Old Republic Insurance.
The sale of AWG and CPG is expected to result in sales proceeds and dividends in excess of $800m (£409m). Net cash proceeds are subject to final transaction costs and certain post closing adjustments. The Company currently expects to record a pretax gain and a modest after-tax loss associated with these transactions during the fourth quarter 2006.
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