March 4, 2019 / 10:24 AM / 16 days ago

BRIEF-Jardine Lloyd Thompson And Marsh & McLennan Offer To Sell JLT's Global Aerospace Business

March 4 (Reuters) - Jardine Lloyd Thompson Group PLC :

* TRANSACTION UPDATE/ SALE OF JLT AEROSPACE BUSINESS

* MMC HAS COMMITTED TO DIVEST JLT’S GLOBAL AEROSPACE INSURANCE BROKING BUSINESS TO ADDRESS A POTENTIAL OVERLAP IN THIS AREA

* MARSH AND JLT SUBMITTED A PROPOSED REMEDY TO EUROPEAN COMMISSION ON 1 MARCH AS PART OF PHASE 1 REVIEW OF MMC’S PENDING ACQUISITION OF JLT

* MMC, JLT REACHED AGREEMENT WITH ARTHUR GALLAGHER & CO. TO SELL AEROSPACE BUSINESS FOR ABOUT £190 MILLION

* ACQUISITION OF JLT BY MMC REMAINS ON TRACK TO CLOSE IN SPRING OF 2019

* SALE PROCEEDS WILL BE RECEIVED FOLLOWING COMPLETION OF ACQUISITION OF JLT BY MMC, AND THERE IS NO IMPACT ON TERMS OF THAT TRANSACTION Source text for Eikon: Further company coverage:

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