Aviva has agreed to sell its controlling stake in Aviva NDB to Asian insurer AIA for £31mn, as the UK insurer looks to divest non-core operations to improve profitability.
Aviva NDB is a Sri Lanka-based joint venture in which Aviva holds a controlling 58.5 percent interest, with local financial group NDB Bank acting as its strategic partner.
The transaction will see AIA pay £31mn in cash for Aviva's stake.
John McFarlane, chairman of Aviva plc, said: "The sale of our...
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