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Aviva Plc Considers Sale Of India Life Insurance Stake-Business Standard

Monday, 5 Aug 2013 05:08am EDT 

Business Standard reported that Aviva Plc is planning to pull out of its Indian insurance joint venture, valued at more than $500 million, as the British insurer retreats from less-profitable markets where it has struggled to grow its business, sources said. Aviva is in the process of hiring corporate advisors to find buyers for its 26% stake in Aviva Life, its venture with Dabur Group, which owns personal care and food products manufacturer Dabur India Ltd . Aviva is considering various options, including the sale of its stake to Dabur Group if it fails to find a foreign insurer to buy it, one of the sources said. 

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