By Sabela Ojea

Aviva PLC said Monday that it is selling its entire shareholding in Aviva Vietnam to Manulife Financial Asia Ltd.

The FTSE 100 listed insurer said the sale is for an all-cash consideration, and that the transaction is expected to increase its IFRS net asset value and solvency II surplus by around 100 million pounds ($132.3 million.)

"The transaction is subject to certain closing conditions, including regulatory approval, and is expected to complete in the second half of 2021," Aviva said.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

December 14, 2020 02:56 ET (07:56 GMT)

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