After five months of negotiations, the British insurer Aviva finally announced on Tuesday morning that it had entered into exclusive negotiations with the mutualist group Aéma for the sale of its French subsidiary, Aviva France.
Barely a month after its creation with the merger of the Macif mutual, specializing in non-life insurance and Aésio Mutual, focused on health and provident insurance, Aéma put 3.2 billion euros on the table to win on the other takeover candidates, in particular the tandem formed by Allianz and the life insurer Athora, Generali and the Eurazeo investment fund, which entered the competition later.
“The sale of Aviva France is a very important step in the implementation of our strategy”, Amanda Blanc, CEO since last summer, of the British insurer said in a statement. The latter intends to refocus on its priority markets, which are the United Kingdom, Canada and Ireland, considered more profitable. These disposals are also intended to strengthen the insurer’s financial structure and possibly distribute part of it to shareholders.
The British insurer has therefore embarked on a race to sell assets, with the sale in September of its majority stake in its subsidiary to …