Aviva Completes Sale of Czech, Hungarian, Romanian Life Businesses

Date : 08/01/2012 @ 3:33AM
Source : Dow Jones News
Stock : Metlife, Inc. (MET)
Quote : 51.89  -0.48 (-0.92%) @ 4:00PM

Aviva Completes Sale of Czech, Hungarian, Romanian Life Businesses

Aviva Inc (NYSE:AV)
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LONDON--Insurance firm Aviva PLC (AV) said Wednesday it has completed the sale of its Czech, Hungarian and Romanian Life businesses to MetLife Inc's (MET) local operating subsidiaries in those countries.

MAIN FACTS:

-Completion of the sale of Aviva's Romanian Pensions business is expected to occur later this year subject to regulatory approval.

-Transaction is consistent with Aviva's strategy to focus on fewer business segments, where it can produce attractive returns.

-Shares at 0700 GMT up 2 pence, or 0.75%, at 294 pence valuing the company at 8.51 billion pounds.

-Write to Ian Walker at ian.walker@dowjones.com

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