Aviva Looking to Sell Friends Provident International
Aviva PLC is looking to sell Friends Provident International, its unit that serves high net-worth clients in Asia and Middle East. The deal could potentially fetch up to $750 million. Potential buyers for the unit include China’s Fosun and HNA Group.
“The deal could potentially fetch up to $750 million. Potential buyers for the unit include China’s Fosun and HNA Group.”
The sale of Friends Provident International comes less than two years after it bought the business in April 2015 as part of a ($8.8 billion) deal to acquire Friends Provident International.
News Source: Wall Street Journal
Aviva is a British multinational insurance company headquartered in London, United Kingdom. It has around 33 million customers across 16 countries. In the UK, Aviva is the largest general insurer and a leading life and pensions provider. In addition, Aviva has a focus on five markets in Europe and, in Asia, the company is focused on the growth markets of China and South East Asia. Aviva is also the second largest general insurer in Canada.
- Origin: United Kingdom
- Revenue: £55,292 million
- Net Income: £859 million
- Employees: 29,500
Official Website: www.aviva.com
News & Media: Press Release
Updated on 8th August 2016