25 May 2017Insurance

Aviva starts £300m share buy-back programme

UK-based insurer Aviva said on May 25 that it will start a share buy-back of its ordinary shares for up to a maximum consideration of £300 million.

Aviva has entered into a non-discretionary agreement with Morgan Stanley to enable the purchase of Aviva ordinary shares by Morgan Stanley, acting as principal, during the period running from 25 May 2017 and ending no later than 15 December 2017.

Shares acquired by Morgan Stanley under the agreement will be simultaneously on-sold to Aviva. To the extent permitted by law, such ordinary shares purchased will be cancelled.

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More on this story

10 May 2017   UK insurer Aviva has announced the sale of its 50 percent shareholdings in life insurance and pension joint ventures Unicorp Vida and Caja España Vid, as well as its retail life insurance business Aviva Vida y Pensiones, to Santalucía. The total consideration of the transaction is €475 million.