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Willis Looking to Sell Part of its Stake in Gras Savoye & Cie

Posted on 18 Jun 2009

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According to a SEC filing on Wednesday, Willis Group Holdings Ltd. is in discussions to possibly sell part of its stake in French insurance brokerage Gras Savoye & Cie.

Willis said it controls just less than 50% of the voting rights for the Paris-based brokerage, according to the file with the SEC.

The filing added that “no definitive agreement with respect to any sale has been reached or entered into by Willis.”

“Willis remains committed to its partnership with Gras Savoye, and although we are exploring a potential sale of a portion of our stake, we intend to retain an ownership position in this business,” Willis said in a statement.