April 21, 2017 / 9:07 AM / 8 months ago

BRIEF-Aviva acquires entire shareholding in Vietnam JV

April 21 (Reuters) - Aviva Plc:

* Aviva acquires entire shareholding in vietnam JV

* Acquisition of Vietinbank’s entire 50 pct shareholding in its life insurance joint venture Vietinbank Aviva Life Insurance Limited

* And signing of a new distribution agreement with Vietinbank to sell life and health insurance products through Vietinbank’s network of over 1,100 branches

* Transaction is subject to customary closing conditions including regulatory approvals.

* As a result of transaction, Aviva Vietnam is now a wholly owned subsidiary of Aviva

* Insurance industry is expected to benefit from country’s projected gdp growth of more than 6 pct annually over next three years. Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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