Aviva PLC Aviva Completes Exit From Spain (2856U)
July 11 2018 - 4:04AM
UK Regulatory
TIDMAV.
RNS Number : 2856U
Aviva PLC
11 July 2018
11 July 2018
AVIVA COMPLETES EXIT FROM SPAIN
Aviva plc ("Aviva") announces that it has completed the sale of
its entire shareholding([1]) in life insurance and pensions joint
ventures, Cajamurcia Vida([2]) and Caja Granada Vida([3]) , to
Bankia([4]) . The final consideration of the transaction is EUR203
million (GBP179 million). This follows the announcement of the sale
by Aviva on 23 February 2018.
Aviva has also agreed the sale of its 50% shareholding in
Spanish life insurance operation, Pelayo Vida([5]) , to
Santalucía([) (6]) . This transaction completes Aviva's withdrawal
from the market. The transaction is subject to regulatory and
anti-trust approvals and is expected to complete in the fourth
quarter of 2018.
-ends-
Enquiries:
Media
Yasmin Saleh +44 (0)20 7662 8710
Analysts
Chris Esson +44 (0)20 7662 8115
Diane Michelberger +44 (0)20 7662 0911
Notes to editors:
-- Proceeds converted to GBP at an exchange rate of EUR1.131/GBP1
-- Aviva provides life insurance, general insurance, health
insurance and asset management to 33 million customers.
-- In the UK we are the leading insurer serving one in every
four households and have strong businesses in selected markets in
Europe, Asia and Canada. Our shares are listed on the London Stock
Exchange and we are a member of the FTSE100 index.
-- Aviva's asset management business, Aviva Investors, provides
asset management services to both Aviva and external clients, and
currently manages over GBP350 billion in assets. Total group assets
under management at Aviva group are GBP490 billion.
-- Aviva helps people save for the future and manage the risks
of everyday life; we paid out GBP34.6 billion in benefits and
claims in 2017.
-- By serving our customers well, we are building a business
which is strong and sustainable, which our people are proud to work
for, and which makes a positive contribution to society.
-- The Aviva newsroom at www.aviva.com/newsroom includes links
to our image library, research reports and our news release
archive.
-- For an introduction to what we do and how we do it, please click here www.aviva.com/about-us
-- Follow us on twitter: www.twitter.com/avivaplc/
-- Follow us on LinkedIn: www.linkedin.com/company/aviva-plc
-- For the latest corporate films from around our business, subscribe to our YouTube channel: www.youtube.com/user/aviva
-- We have a Globelynx system for broadcast interviews. Please
contact the Press Officer noted above if you would like to make a
booking.
[1] Aviva holds 50% shareholding in Cajamurcia Vida and 25%
shareholding in Caja Granada
[2] Cajamurcia Vida y Pensiones de Seguros y Reaseguros,
S.A.
[3] Caja Granada Vida, Compañía de Seguros y Reaseguros,
S.A.
[4] Bankia SA
([5]) Pelayo Vida Seguros y Reaseguros S.A.
([6]) Santa Lucía, S.A, Compañía de Seguros y Reaseguros
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCRBMPTMBMBMMP
(END) Dow Jones Newswires
July 11, 2018 04:04 ET (08:04 GMT)
Aviva (LSE:AV.)
Historical Stock Chart
From Mar 2024 to Apr 2024
Aviva (LSE:AV.)
Historical Stock Chart
From Apr 2023 to Apr 2024