Just a day after announcing the sale of its French division, Aviva has confirmed it is to sell its entire 40% shareholding in its joint venture in Turkey, Aviva SA, to Ageas Insurance International for a cash consideration of £122m. Aviva's joint venture partner, Sabancı Holding, will retain its 40% shareholding. The transaction is expected to increase Aviva's IFRS Net Asset Value and Solvency II surplus by £100m. The transaction is subject to customary closing conditions, including regulatory approval, and is expected to complete in 2021. The sale follows Aviva's sale of its share...
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