Source - LSE Regulatory
RNS Number : 1076Q
Aviva PLC
24 February 2021


24 February 2021


Aviva announces exit from Turkey



Aviva plc ("Aviva") has agreed to sell its entire 40% shareholding in its joint venture in Turkey, AvivaSA Emeklilik ve Hayat AS ("Aviva SA"), to Ageas Insurance International N.V.  for a cash consideration of £122 million.


Aviva's joint venture partner, Sabancı Holding, will retain its 40% shareholding. The transaction is expected to increase Aviva's IFRS Net Asset Value1 and Solvency II surplus1 by c. £0.1bn. 


The transaction is subject to customary closing conditions, including regulatory approval, and is expected to complete in 2021.





1.     Using estimated 31 December 2020 position and GBP/TRY FX spot rate of  £1/TRY10.16








Andrew Reid                                                                                                     +44 (0)7800 694 276

Sarah Swailes                                                                                                    +44 (0)7800 694 859




Jakub Rosochowski                                                                                       +44 (0)7385 382 206



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