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Aviva agrees to takeover terms for Friends Life

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Published Tue, Dec 2, 2014 · 09:50 PM

London

BRITISH insurer Aviva has agreed to terms for a £5.6 billion (S$11.5 billion) takeover of rival Friends Life in a share deal which creates a market leader with 16 million life insurance customers.

Analysts said the cost savings from the combination were higher than expected but would take several years to be achieved.

Aviva

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