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Aviva exits Turkey after agreeing to sell stake in AvivaSA Emeklilik ve Hayat for £122m
StockMarketWire.com
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Insurance company Aviva said it had agreed to sell its entire 40% shareholding in its joint venture in Turkey, AvivaSA Emeklilik ve Hayat AS, to Ageas Insurance International for £122 million.
Aviva's joint venture partner, Sabancı Holding, would retain its 40% shareholding.
The transaction was expected to increase Aviva's IFRS net asset value and solvency II surplus by about £0.1 billion.
Story provided by StockMarketWire.com
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