Marsh & McLennan Could Sell Kroll: Report
NEW YORK (
) --
Marsh & McLennan
(MMC) - Get Report
has put Kroll, its corporate investigations division, up for sale for about $1.3 billion, the
Financial Times
reports.
The company has been successful in attracting a stream of private equity players in first-round bidding. Carlyle Group, ApaxPartners and General Atlantic all submitted bids by the deadline in late February, while BCPartners is also mulling a bid alongside one or two trade bidders, the newspaper said, citing people familiar with the situation.
Among others expressing in Kroll was its founder Jules Kroll, who sold the business to Marsh & McLennan in 2004 for $1.9 billion. Kroll declined to say whether he was part of the current bid process. "I am staying close to the situation," he told the
Financial Times
.
Kroll, which has about $650 million in annual revenue, was deemed a poor strategic fit almost since the time it was bought by Marsh & McLennan, the
Financial Times
says.
Marsh & McLennan has been under pressure to examine its disparate corporate structure, which includes its core insurance broking business Marsh, the consultants Mercer and Oliver Wyman, and reinsurance broker Guy Carpenter, as well as Kroll, the
Financial Times
says.
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