Aviva: divests subsidiary in Poland
(CercleFinance.com) - Aviva has announced that it has taken an important step in the execution of its strategy, with the agreement to sell its entire stake in Aviva Poland to Allianz for a cash consideration of 2.
5 billion euros, valuing the acquired business2 at 2.7 billion euros.
The British insurance company explains that it will now "focus on its strongest businesses in the UK, Ireland and Canada where it has leading market positions and strong growth potential".
The divestment of Aviva Poland is the eighth transaction Aviva has announced in the past eight months, and this successfully concludes the planned refocus of the Group's portfolio. Subject to customary conditions, it is expected to close within 12 months.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
5 billion euros, valuing the acquired business2 at 2.7 billion euros.
The British insurance company explains that it will now "focus on its strongest businesses in the UK, Ireland and Canada where it has leading market positions and strong growth potential".
The divestment of Aviva Poland is the eighth transaction Aviva has announced in the past eight months, and this successfully concludes the planned refocus of the Group's portfolio. Subject to customary conditions, it is expected to close within 12 months.
Copyright (c) 2021 CercleFinance.com. All rights reserved.