LONDON (Reuters) - British insurer Aviva AV.L on Thursday announced the sale of a 50 percent stake in its life insurance joint venture Antarius 1 to a unit of French bank Societe Generale SOGN.PA for about 425 million pounds ($531.42 million).
Antarius is currently owned jointly by Aviva and a separate subsidiary of Societe Generale.
“This is a good deal at an attractive valuation and the sale realises a strong return for our shareholders,” said Aviva Chief Executive Officer Mark Wilson.
Reporting By Andrew MacAskill; Editing by Rachel Armstrong
Our Standards: The Thomson Reuters Trust Principles.