Business Companies 03 May 2016 Aviva takes an extra ...

Aviva takes an extra 23 percent stake in India JV partner Dabur Invest

REUTERS
Published May 3, 2016, 2:10 pm IST
Updated May 3, 2016, 2:10 pm IST
The acquisition takes Aviva's stake to 49 percent
Aviva India contributed 36 million pounds ($52.96 million) to Aviva's net assets in 2015
 Aviva India contributed 36 million pounds ($52.96 million) to Aviva's net assets in 2015

Insurer Aviva said on Tuesday it had purchased an additional 23 percent share in Aviva Life Insurance Company India Limited from joint venture partner Dabur Invest Corp.

The acquisition, which takes Aviva's stake to 49 percent, followed a recent regulatory change in India. It will have a neutral impact on Aviva's net assets, the company said in a statement.

 

Aviva India contributed 36 million pounds ($52.96 million) to Aviva's net assets in 2015 and 4 million pounds to profits, it added.

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