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Share Name Share Symbol Market Type Share ISIN Share Description
Aviva Plc LSE:AV. London Ordinary Share GB0002162385 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -10.90 -2.92% 361.90 360.80 361.20 370.00 360.80 364.50 21,677,819 16:35:18
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Life Insurance 31,243.0 3,933.0 63.8 5.7 14,218

Aviva to Sell French Business for $3.89 Billion

23/02/2021 7:49am

Dow Jones News


Aviva (LSE:AV.)
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By Matteo Castia

 

Aviva PLC said Tuesday that it is selling its French business to mutual insurer Aema Groupe for 3.2 billion euros ($3.89 billion) in cash.

The FTSE 100 listed insurer said the deal is expected to be completed by the end of this year.

The company said the deal will significantly strengthen its liquidity position and realize considerable value for shareholders.

Aviva said it will use the proceeds to support its debt-reduction plan, investment for long-term growth, return of excess capital to shareholders, and to accelerate the repayment of some of the its internal loan with Aviva Insurance Ltd.

 

Write to Matteo Castia at matteo.castia@dowjones.com

 

(END) Dow Jones Newswires

February 23, 2021 02:34 ET (07:34 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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