Aviva completes sale of Aviva FranceSource: RNS
30 September 2021
Aviva completes sale of Aviva France for £2.8 billion1
Aviva plc ("Aviva") today announces the completion of the sale of its French business to Aéma Groupe and has received £2.8- billion2 (€3.2 billion) in cash consideration. The transaction was announced on 23 February 2021.
Amanda Blanc, Group Chief Executive Officer, said:
"This is a very significant step forward for Aviva. It greatly simplifies the company as we focus on our core businesses in the UK, Ireland and Canada.
"I am confident that Aéma, with its strong insurance heritage and reputation, will be an excellent owner of Aviva France. I wish the business and all its people every success for the future."
1. The consideration includes £0.9bn in respect of Aviva France's intra-group debt
2. Using FX rate of £1/€1.16 which allows for the impact of currency hedging
Andrew Reid +44 (0)7800 694 276
Sarah Swailes +44 (0)7800 694 859
Rupert Taylor Rea +44 (0)7385 494 440
Notes to editors:
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