Aviva completes sale of two Spanish holdings, announces a third

Aviva has completed the sale of its entire shareholding in life insurance and pensions joint ventures Cajamurcia Vida and Caja Granada Vida to Bankia, it confirmed on Wednesday.

The FTSE 100 company said the final consideration of the transaction was €203m (£179m).

It followed the announcement of the sale by Aviva on 23 February.

“Aviva has also agreed the sale of its 50% shareholding in Spanish life insurance operation, Pelayo Vida, to Santalucía,” the firm’s board said on Wednesday.

“This transaction completes Aviva's withdrawal from the market.

“The transaction is subject to regulatory and antitrust approvals and is expected to complete in the fourth quarter of 2018.”