Aviva completes exit from Turkey with GBP122 million sale to Ageas

(Alliance News) - Aviva PLC said Thursday that it has completed the sale of its entire 40% stake ...

Alliance News 6 May, 2021 | 7:50AM
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(Alliance News) - Aviva PLC said Thursday that it has completed the sale of its entire 40% stake in the Turkish life insurance and pensions joint venture, AvivaSA Emeklilik ve Hayat AS, to Ageas Insurance International NV.

The London-based insurer said it received GBP 122 million in cash, including a GBP3 million dividend from AvivaSA in March.

Aviva has been selling non-core operations to focus on the UK, Ireland and Canada as part of a strategy put in place by Amanda Blanc, who became chief executive in July of last year.

Aviva shares were trading up 0.8% at 406.90 pence in London early Thursday.

By Will Paige; willpaige@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 462.30 GBX 0.83

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