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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Aviva plc    AV.   GB0002162385

AVIVA PLC (AV.)

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Aviva : Takes Full Control of Vietnam Life Insurance Venture

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04/21/2017 | 10:38am CEST

By Razak Musah Baba

LONDON--U.K. Insurer Aviva PLC (AV.LN) has taken full control of its Vietnam life insurance joint venture, by acquiring VietinBank's 50% stake in VietinBank Aviva Life Insurance Ltd., for an undisclosed sum.

Aviva said Friday it has also signed a new distribution agreement with VietinBank to sell life and health insurance products through VietinBank's network.

Aviva Vietnam was founded in 2011. Aviva said taking full ownership of the joint venture will help it focus on growing the business across all key distribution channels and will also simplify Aviva's operating structure in the region.

The transaction is subject to customary closing conditions including regulatory approvals, it said.

At 0810 GMT, Aviva shares were up 1 pence, or 0.3%, at 508 pence, valuing the company at 20.67 billion pounds ($26.44 billion).

-Write to Razak Musah Baba at [email protected]; Twitter: @Raztweet

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Financials ( GBP)
Sales 2017 26 636 M
EBIT 2017 2 954 M
Net income 2017 1 753 M
Debt 2017 -
Yield 2017 4,98%
P/E ratio 2017 13,18
P/E ratio 2018 11,64
Capi. / Sales 2017 0,80x
Capi. / Sales 2018 0,77x
Capitalization 21 339 M
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 5,36  GBP
Spread / Average Target 2,2%
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NameTitle
Mark Andrew Wilson Group Chief Executive Officer & Executive Director
Adrian Alastair Montague Chairman
Nitinbhai Babubhai Maganbhai Amin Chief Operations & Transformation Officer
Thomas Dawson Stoddard Group Chief Financial Officer & Executive Director
Monique Shivanandan Chief Information Officer
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