Xchanging buys out Aon

Troubled outsourcing group Xchanging yesterday said it would pay £10.5m to take full control of its broking support services arm by buying out Aon’s 50 per cent stake. Xchanging, which refinanced in August following a profit warning in February, said its relationship with Aon would continue through a service contract, but that the deal would help simplify its company structure. On Tuesday, the firm admitted it would take a £7.3m hit for winding down its US operations.