Thursday, March 11, 2010

Marsh & McLennan Seeking To Sell Kroll For $1.3 Billion

3/8/2010 -- Insurance brokerage Marsh & McLennan Companies Inc. (MMC: News ) has put Kroll, its corporate investigations division, up for sale for about $1.3 billion, according to a report in the Financial Times on Monday.

According to the FT report, the sale has attracted private equity firms including the Carlyle Group, Apax Partners and General Atlantic. These firms entered bids by the deadline for first expressions of interest in late February, while BCPartners might be a potential buyer alongside one or two trade bidders, the report noted, citing people familiar with the situation.

Other expressions of interest for Kroll include from its founder, Jules Kroll, who sold the business to Marsh in 2004 for $1.9 billion. The founder of Kroll recently launched a new boutique investigations firm called K2. He no longer owns a significant stake in Marsh.

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