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Aviva Plc Sells 49% Stake In Malaysian JV To Sun Life Financial Inc's Sun Life Assurance Company of Canada For GBP152 Million-DJ


Thursday, 17 Jan 2013 05:07am EST 

Dow Jones reported that Aviva Plc has reached agreement to sell its 49% interest in CIMB Aviva Assurance Berhad and CIMB Aviva Takaful Berhad to Sun Life Assurance Company of Canada (SLA), a subsidiary of Sun Life Financial Inc, for a consideration of GBP152 million payable in cash. CIMB-Aviva is a joint venture between Aviva International Holdings Ltd and CIG Berhad, which is ultimately owned by CIMB Group Holdings Berhad, one of Malaysia's financial groups and parent of CIMB Bank. The agreement reached by the parties, and the sale, are subject to regulatory approval and execution of appropriate legal documentation. Upon receipt of the aforesaid regulatory approval, the parties will work to close the proposed transaction during the first half 2013.X 

Company Quote

8.18
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30 Oct 2014