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Aviva eyes sale of Friends Provident unit for US$500-US$700m
[HONG KONG] Aviva Plc is exploring a sale of its Friends Provident International unit, which offers life assurance and investment products, in a deal that could raise between US$500 million and US$700 million, a source with direct knowledge of the matter said.
The British insurer has received preliminary interest from about half a dozen Chinese firms and European funds for the business, said the source, declining to be named as the process was not public.
An Aviva spokeswoman declined to comment.
The news was earlier reported by The Wall Street Journal.