ISTANBUL Feb 18 British insurer Aviva Plc
has mandated Barclays to sell its Turkish unit Aviva
Sigorta, a non-life insurance company, three sources
with knowledge of the process said on Monday.
Aviva had said in a statement to the Istanbul Stock Exchange
on Nov. 21 that it would look into strategic options for its
"Aviva mandated Barclays to sell the whole unit," one of the
"It's a pretty tough sell as they don't have a banking
distribution channel but there could be some buyers who are
looking for small-medium assets," another source said, adding
that the deal was not imminent.
Aviva declined to comment.
Aviva Sigorta share were trading down 0.2 percent at 4.90
lira on Monday, giving it a market value of 735 million lira