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Friday, September 19, 2014

BRIEF-Aviva to sell stake in Spanish JV for 287 million euro, (NYSE: AV)

Aviva Plc : * Aviva to sell its stake in Spanish joint venture* Novacaixagalicia Banco to purchase back stake in joint venture for eur 287 million* Consideration represents a multiple of 25 times CXG Aviva's 2013 operating earnings* Expected to complete by end of 2014

Aviva plc (Aviva) is an insurance and asset management company. Shares of AV traded higher by 1.05% or $0.18/share to $17.40. In the past year, the shares have traded as low as $12.75 and as high as $18.24. On average, 126325 shares of AV exchange hands on a given day and today's volume is recorded at 200950.