Ageas completes the acquisition of a 40% stake in AvivaSA

Ageas completes the acquisition of a 40% stake in AvivaSA

On 23 February 2021, Ageas announced an agreement with Aviva plc to acquire its 40% stake in the Turkish listed life insurance and pensions company AvivaSA. Ageas confirms that all regulatory approvals have been obtained and that the transaction has completed today.

Ageas acquires the 40% stake for a total consideration of GBP 119 million (EUR 140 million) in cash. The impact on the Group’s solvency position is around 3 percentage points.

Following the transaction, AvivaSA is owned 40% by Ageas, 40% by Sabanci Holding and 20% is free float. A re-branding of AvivaSA will be proposed at a general shareholders meeting of the company later in 2021.