February 9, 2017 / 7:26 AM / a year ago

SocGen buys Aviva's stake in insurer Antarius 1 for 425 million pounds

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

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