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Hartford to sell Talcott Resolution in deal valued at $2.05 bln
December 4, 2017 / 11:31 AM / 10 days ago

Hartford to sell Talcott Resolution in deal valued at $2.05 bln

Dec 4 (Reuters) - Hartford Financial Services Group on Monday agreed to sell its life and annuity businesses, Talcott Resolution, to a group of investors in a deal valued at $2.05 billion.

Total consideration consists of cash, a pre-closing cash dividend, the unit’s debt and a 9.7 percent ownership in the new company, Hartford said.

Around 400 employees of Hartford will join the new company as part of the deal, the company said. (Reporting By Aparajita Saxena in Bengaluru; Editing by Sriraj Kalluvila)

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