Aviva Continues Shake-up With €3.2B Sale Of French Arm

Law360, London (February 23, 2021, 12:19 PM GMT) -- British insurance giant Aviva PLC said on Tuesday it will sell its French business to mutual insurer Aéma Groupe for €3.2 billion ($3.8 billion), as it continues a wider shake-up of its international portfolio.

Aviva has said that the €3.2 billion ($3.8 billion) sale of its French subsidiary will free up cash and bring "focus" to the group. (iStock) The London-based insurer said the sale of Aviva France would free up cash and bring "real focus" to the group. The deal, which is expected to be completed by the end of 2021, follows the sale of its overseas businesses in Italy,...

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