February 23, 2018 / 7:28 AM / 3 months ago

BRIEF-Aviva Sells Remaining Spanish Businesses For 202 Mln Euros To Bankia​

Feb 23 (Reuters) - Aviva Plc:

* DEAL ‍FOR A TOTAL CONSIDERATION OF EUR 202 MILLION​

* ‍CONSIDERATION REPRESENTS 2.1 TIMES AVIVA’S SHARE OF IFRS NET ASSET VALUE AND 22.5 TIMES AVIVA’S SHARE OF EARNINGS AFTER TAX OF THESE BUSINESSES​

* ‍TRANSACTION WILL RESULT IN AN INCREASE OF APPROXIMATELY £150 MILLION IN AVIVA’S SOLVENCY II CAPITAL SURPLUS​

* ‍TRANSACTION WILL RESULT IN AN INCREASE OF APPROXIMATELY £150 MILLION IN AVIVA’S SOLVENCY II CAPITAL SURPLUS​

* ‍SALE OF ITS ENTIRE SHAREHOLDING IN LIFE INSURANCE AND PENSIONS JOINT VENTURES CAJAMURCIA VIDA AND CAJA GRANADA VIDA TO BANKIA​

* ‍AVIVA WILL RETAIN A STAKE IN A SMALL LIFE INSURANCE OPERATION, PELAYO VIDA, AND A RESIDUAL SUPPORT CENTRE IN SPAIN​ Source text for Eikon: Further company coverage:

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