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Aviva takes an extra 23% stake in India JV partner Dabur Invest

Insurer Aviva has taken an additional 23% share in Aviva Life Insurance Company India from joint venture partner Dabur Invest Corp

Aviva takes an extra 23 percent stake in India JV partner Dabur Invest

Reuters

Insurer Aviva said on Tuesday it has purchased an additional 23% share in Aviva Life Insurance Company India Limited from joint venture partner Dabur Invest Corp.

The acquisition, which takes Aviva's stake to 49%, followed a recent regulatory change in India. It will have a neutral impact on Aviva's net assets, the company said in a statement.

Aviva India contributed 36 million pounds ($52.96 million) to Aviva's net assets in 2015 and 4 million pounds to profits, it added.

 

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First Published: May 03 2016 | 2:23 PM IST

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