JLT completes £53m US sale
Further to the announcement made on 8th September 2006, Jardine Lloyd Thompson has confirmed the sale of its US based Property and Casualty Insurance and Employee Benefits businesses to Alliant Insurance Services was completed after the close of business yesterday. The transaction completed on the originally announced terms.
The consideration is US$100m (£53.2m) including US$5m (£2.7m) of deferred consideration payable by instalments at the end of 2008 and 2009, subject to the profitability of the businesses being sold.
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