Key Developments: Aviva PLC (AV.L)

AV.L on London Stock Exchange

549.00GBp
1 Apr 2015
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9.00p (+1.67%)
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Latest Key Developments (Source: Significant Developments)

Aviva plc announces Approvals by the PRA and FCA for proposed acquisition
Tuesday, 17 Mar 2015 01:35pm EDT 

Aviva plc:Says proposed acquisition approved by Prudential Regulation Authority (PRA) and the Financial Conduct Authority.Says on Dec. 02, 2014, Friends Life and Aviva announced that they had reached agreement on the terms of a recommended all-share acquisition of the entire issued and to be issued ordinary share capital of Friends Life by Aviva (Proposed Acquisition) to be implemented.Friends Life and Aviva announce that, pursuant to Part XII of the Financial Services and Markets Act 2000 (as amended) (FSMA), the PRA has approved acquisition of control by Aviva of Friends Life Group entities authorised by the PRA and regulated by the PRA and the FCA.Pursuant to Part XII of FSMA, FCA has also approved the acquisition of control by Aviva of the Friends Life Group entities authorised and regulated by the FCA.Whilst all required regulatory approvals have now been received, the Proposed Acquisition remains subject to the satisfaction or waiver (if capable of waiver) of the remaining Conditions set out in the scheme document in relation to the Scheme dated Jan. 19.  Full Article

Aviva PLC announces EC approval received for Friends Life Group Limited acquisition
Friday, 13 Mar 2015 01:45pm EDT 

Aviva PLC:Proposes Acquisition unconditionally cleared by European Commission.On Dec. 02, 2014 Friends Life and Aviva announced that they had reached agreement on terms of a recommended all-share acquisition of the entire issued and to be issued ordinary share capital of Friends Life by Aviva to be implemented by way of a court-sanctioned scheme of arrangement.Friends Life and Aviva announces that, earlier, the European Commission confirmed that, following its phase I review, it has unconditionally cleared the Proposed Acquisition.Proposed Acquisition remains subject to the satisfaction or waiver (if capable of waiver) of the remaining Conditions set out in the scheme document in relation to the Scheme dated Jan. 19.  Full Article

Aviva Plc recommends final dividend
Thursday, 5 Mar 2015 04:54am EST 

Aviva Plc:Recommends a final dividend of 12.25 pence per share on Aviva ordinary shares.Dividend will be paid on May 15, 2015 to shareholders on the Register of Members on the record date of April 9, 2015.  Full Article

Aviva plc's Aviva Investors pays out 150 mln Pounds for control failures - Reuters
Tuesday, 24 Feb 2015 07:42am EST 

Aviva plc:Aviva Investors Global Services, part of Aviva, has paid out 150 mln Pounds ($232 mln) in fines and compensation after failing to control conflicts of interest, Britain's markets watchdog said - Reuters.The Financial Conduct Authority said it fined Aviva Investors 17.6 mln Pounds for systems and controls failings spanning eight years to June 2013.These weaknesses led to compensation of 132 mln Pounds being paid to ensure that none of the funds Aviva Investors managed was adversely affected, the regulator said.Aviva Investors used a management strategy whereby funds that paid different levels of performance fees were managed by the same trading desk.The same people were managing hedge funds, which typically pay a high fee for outperforming the market, and so-called long funds that pay much lower fees.Some of these fees were paid to traders who managed the funds.This type of incentive structure created conflicts of interest as these traders had an incentive to favour one fund over another.Traders were able to delay recording the allocation of trades for several hours without being detected internally.Compensation was paid to eight funds managed by Aviva on behalf of other companies within the group.  Full Article

Kennedy Wilson Europe Real Estate plc acquires 180 property portfolio from Aviva Commercial Real Estate Finance, a subsidiary of Aviva Plc
Monday, 2 Feb 2015 08:01am EST 

Kennedy-Wilson Holdings Inc:Says that Kennedy Wilson Europe Real Estate Plc has acquired a mixed use property portfolio of 180 properties located in the United Kingdom from Aviva Commercial Real Estate Finance, a subsidiary of Aviva Plc, the UK's largest insurer.Transaction totaling about 503 mln pounds ($758 mln).Closes acquisition of 163 of the 180 properties, with a value of about 444 mln pounds ($669 mln), and the remaining 17 properties in the portfolio are expected to close subject to certain conditions.  Full Article

Aviva Plc recommends all-share acquisition of Friends Life Group Ltd
Tuesday, 2 Dec 2014 02:00am EST 

Aviva Plc:Says the Boards of Aviva and Friends Life Group Ltd are announced that they have reached agreement on the terms of a recommended all-share acquisition of Friends Life by Aviva.Under the terms of the Proposed Acquisition, holders of Friends Life Shares will receive 0.74 New Aviva Shares for each Friends Life Share they hold.Based on the Exchange Ratio and the Closing Price of Aviva as at Dec. 1, the Proposed Acquisition values each Friends Life Share at 370p, which represents a premium of 8 pct to the closing price of 343p per Friends Life Share on Nov. 20.Proposed Acquisition would result in Friends Life Shareholders owning about 26 per cent. of the issued ordinary share capital of the Enlarged Aviva Group.Following the Proposed Acquisition, it is anticipated that, Andy Briggs, the current Group Chief Executive of Friends Life, will become Chief Executive Officer of Aviva UK Life and will join the board of Aviva as an Executive Director.At completion of the Proposed Acquisition, Friends Life is required to settle the Value Share in cash.Says the cash consideration payable to RCAP is expected by Friends Life to be about 220 mln Pounds.  Full Article

Aviva Plc closes IPO of AvivaSA
Monday, 10 Nov 2014 03:00am EST 

Aviva PLC:Announces the closing of the initial public offering of ordinary shares of its joint venture AvivaSA Emeklilik ve Hayat A.S.Says the company is expected to be listed as 'AVISA' on Borsa Istanbul from Nov. 13.Says the final price is TL 47 per lot of 100 shares, in the top quartile of the initial price range of TL 41-49, valuing the company at TL 1.68 bn.Says the pricing represents an implied multiple of 18x AvivaSA's historical net income.  Full Article

Aviva plc announces directorate change
Friday, 12 Sep 2014 04:04am EDT 

Aviva plc:Says Adrian Montague will become non-executive chairman on the retirement of John McFarlane at the Aviva AGM in April 2015.  Full Article

Aviva plc proposes IPO of Turkish Joint Venture
Thursday, 4 Sep 2014 10:24am EDT 

Aviva plc and Haci Ă–mer Sabanci Holding A.S:Assessing potential initial public offering of minority stake in their life and pensions business AvivaSA Emeklilik ve Hayat A.S. (AvivaSA).Potential initial public offering is part of Aviva's and Sabanci's strategy for AvivaSA, one of Aviva's growth businesses and one of Turkey's private pensions providers.Aviva currently holds 49.8 pct stake in AvivaSA.  Full Article

Aviva PLC declares dividend on ordinary and cumulative irredeemable preference shares
Thursday, 7 Aug 2014 04:26am EDT 

Aviva PLC:Declares Interim Dividend on Ordinary Shares and Dividend on 83/8 pct Cumulative Irredeemable Preference Shares.Declares Interim Dividend on Ordinary Shares of 0.25 pounds.Payable on Nov. 17.Declares dividend on 83/8 pct cumulative irredeemable preference shares of 1 pound.Payable on Sept. 30.  Full Article

Friends Life partnership sells $242 mln of Aviva shares - source

LONDON, March 31 - The Friends Life "Value Share" partnership has sold 163.86 million pounds ($242.3 million) of shares in Aviva, a source familiar with the matter said on Tuesday.

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