Aviva To Raise $1.6B In Dutch IPO

Law360, New York (October 5, 2009, 3:43 PM EDT) -- Insurance giant Aviva PLC plans to raise about $1.6 billion in an initial public offering of its Delta Lloyd Group subsidiary on the Euronext Amsterdam exchange.

Aviva expects the offering to commence in November, the company told European news sources Monday. An Aviva spokesman said the company granted access to its statement on the IPO only to European investors and news outlets, citing “U.S. restrictions that relate to such offerings.”

The company will offer at least 30 percent of the subsidiary in the deal, nearly one-third...
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