(Alliance News) - Aviva PLC said Thursday that it has completed the sale of its entire 40% stake in the Turkish life insurance and pensions joint venture, AvivaSA Emeklilik ve Hayat AS, to Ageas Insurance International NV.
The London-based insurer said it received GBP 122 million in cash, including a GBP3 million dividend from AvivaSA in March.
Aviva has been selling non-core operations to focus on the UK, Ireland and Canada as part of a strategy put in place by Amanda Blanc, who became chief executive in July of last year.
Aviva shares were trading up 0.8% at 406.90 pence in London early Thursday.
By Will Paige; email@example.com
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