AVIVA'S AUSTRALIAN unit is definitely going says the FT today, in a deal that should net the UK firm...
AVIVA'S AUSTRALIAN unit is definitely going says the FT today, in a deal that should net the UK firm about £1bn. The buyer is Australia's largest insurer IAG, which yesterday suspended its shares on the Australian stock exchange in advance of what many there believe to be a £500m rights issue necessary to fund the deal. This is the latest string of disposals made by Aviva around the world in the past year as it strives to maintain cash reserves - although it will retain its Norwich Union brand assets in Australia, particularly an adminstrative services platform called Navigato...
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