British insurer Aviva rises on plans to sell Singlife JV stake for nearly $1 bln
13/09/2023 08:21
** Shares of British insurer Aviva AV.L up 3% at 387p,
among the top pct gainers in London stocks
** Aviva is quitting its Singlife joint venture and selling
its 25.9% stake in Singapore Life Holdings and two debt
instruments pounds to Sumitomo Life for a combined 800 mln
pounds ($995.76 mln)
** The transaction is expected to be completed in the fourth
quarter of 2023, Aviva said
** Singlife joint venture contributed 17 mln pounds to
Aviva's operating profit in 2022
** Up to Tuesday's close, stock down ~15% YTD
($1 = 0.8034 pounds)
(Reporting by Khushi Mandowara in Bengaluru)
((Khushi.Mandowara@thomsonreuters.com;))