Aviva To Sell Entire Stake In Turkish Partnership For GBP122 Million

(Alliance News) - London-based Aviva PLC on Wednesday said it has agreed to sell its entire 40% ...

Alliance News 24 February, 2021 | 8:35AM
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(Alliance News) - London-based Aviva PLC on Wednesday said it has agreed to sell its entire 40% shareholding in its joint venture in Turkey, AvivaSA Emeklilik ve Hayat AS.

The FTSE 100-listed insurance company said the stake will be sold to Ageas Insurance International NV for GBP122 million in cash.

Aviva's joint venture partner, Sabanc1 Holding, will retain its 40% shareholding.

The transaction - which is seen completing later in 2021 - is expected to increase Aviva's net asset value and Solvency II surplus by GBP100 million, it said.

Aviva shares were trading 0.2% lower in London on Wednesday morning at 374.00 pence each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Aviva PLC 465.40 GBX -1.13

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