NU Online News Service, Nov. 19, 10:47 a.m. EST

Willis Group Holdings Limited and family shareholders of French insurance broker Gras Savoye & Cie, said they have an agreement for Astorg Partners to take a third interest in Gras Savoye.

The leveraged transaction announced today with the private equity fund, will reorganize the capital of Gras Savoye and Willis said part of the deal should provide it with $160 million to pay down debt.

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