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December 2, 2021

Aviva wraps up deal with CNP Assurances; exits Italian market

Aviva has completed the divesture of its Italian life insurance businesses to CNP Assurances for a cash consideration of €543m.

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The deal, announced in March this year, marks Aviva’s exit from the Italian market.

It includes a 51% stake in Aviva S.p.A., a life insurance joint venture in which UniCredit holds 49%. It will be renamed as CNP Vita Assicura.

CNP Assurances has also acquired the entire stake in Aviva’s other life insurance business Aviva Life S.p.A, which will be renamed to CNP Vita Assicurazione.

Additionally, as part of the deal, CNP Assurances has acquired a 92.99% stake in Aviva Italia Servizi, which will be rebranded as CNP Vita SCARL.

The announcement comes just after Aviva complete the sale of its operations in Poland and Lithuania to Allianz.

The German insurer acquired Aviva’s life and non-life insurance operations as well as its pension and asset management businesses for $2.9bn.

Aviva group CEO Amanda Blanc said: “In the last 24 hours we have completed the sales of both Aviva Poland and our Italian life insurance business. These are major steps forward as we radically simplify Aviva. I have no doubt that both businesses will thrive under their excellent new owners and I wish them and all their people every future success.”

Separately, CNP Assurances has signed an agreement (call option) with Italian lender UniCredit to sell its stake in Aviva’s Italian operations.

UniCredit can exercise its call option until 30 December 2021.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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