Aviva aims to raise pounds 1bn in bid to sell stake in Dutch business.INSURANCE group Aviva Aviva plc (LSE: AV.) is the world's fifth-largest insurance group, the biggest insurance group in the UK and the second-largest insurance group in Canada. Worldwide, it trails behind AXA, Allianz, ING and Fortis. fired the starting gun on a partial flotation flotation or froth flotation Most widely used process for extracting many minerals from their ores. The method separates and concentrates ores by altering their surfaces so that they are either repelled or attracted by water. of Dutch business Delta Lloyd yesterday, in a move expected to raise at least pounds 1bn. Britain's largest insurer confirmed it will sell a minority stake in Delta Lloyd in a stock market listing which has been scheduled for next month. The operation is one of the top five financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. providers in the Netherlands, with around pounds 40bn in assets under management. It employs about 6,400 staff. The listing is taking place sooner than expected after Aviva said, at its interims in August, that a sale would not take place until next year. However, the improvement in the health of equity markets and the high level of interest among Dutch institutional investors have encouraged Aviva to move more quickly. The share sale would be one of the biggest offerings in Europe for at least 18 months. Aviva has not disclosed details of the float, but reports at the weekend said it intended to sell between 30% and 40% of the business in Amsterdam, valuing the company at around pounds 4bn. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion