WTW to sell TRANZACT for $632.4M; expects Q3 impairment charges of $1.6–$2.1B

WILLIS TOWERS WATSON PLC

Sale to GTCR and Recognize at $632.4M subject to adjustments; expected close by end of 2024.
Non-cash pre-tax impairment of $1.6–$2.1B due to held-for-sale classification, recorded in Q3.
CEO Carl Hess says divestiture sharpens focus on B2B/B2B2C and accelerates free cash flow margin expansion.
Advisors: BofA Securities and Lazard financial; Weil, Gotshal & Manges legal.

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