Aviva to Sell French Business for $3.89 Billion
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
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
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 firstname.lastname@example.org
(END) Dow Jones Newswires
February 23, 2021 02:34 ET (07:34 GMT)
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