Aviva announces an agreement for the purchase of Friends Life

Aviva announced it has found an agreement with Friends Life's board for te purchase of its British counterpart.

The proposal of Aviva, amounting to 8.7 billion USD, represents 15% more than the value of Friends at the closure of the London Stock last week. The second largest company of the pensions market plans to trade each Friends' share with 0.74 of its own shares.

The deposit of Aviva's formal offer must intervene before the 19th December 2014.

In case the deal is made, Aviva would become "the leader in the fields of insurance, savings and assets management in terms of number of customers", with a portofolio of 36 million customers, among which 16 million are from the British market.

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