Xerox Agrees To Sell Resolution Group

Xerox Corp. agreed to sell one of its Talegen Holdings Inc. insurance units for $612 million, so it can focus on document processing.

The unit, Resolution Group Inc., is being sold to a group led by Michael A. Coutu, its chief executive, for $150 million in cash and $462 million of instruments linked to the company’s performance, Xerox said.

Resolution Group, a Chicago-based unit, was formed to pay off claims on policies that other Talegen Holdings units stopped writing, Xerox said.