Tel: 01992 471001

Email: hoddesdon@ashbourneinsurance.co.uk

Aviva Considering Co-Op Purchase – A £650m Deal Is Reported To Be In The Early Stages

Aviva is considering a £650m takeover of the Co-op Group’s insurance arm, according to the Sunday Times.

Deutsche Bank has been appointed to sell the insurance business and so far has interest from several potential buyers. In addition to Aviva, Ageas and entrepreneur Edmund Truell have both shown an interest in the business.

Aviva’s interest comes following the announcement last week that it is cutting 2,000 jobs as part of an on-going cost-cutting exercise.

The Co-op is selling its insurance business in order to fund the acquisition of 632 branches from Lloyds Banking Group. The bank was ordered to sell the branches by the European Commission.

Leave a comment

Your email address will not be published. Required fields are marked *

Recent blogs

  • Archives

  • Calendar

    January 2019
    MTWTFSS
    « Dec  
     123456
    78910111213
    14151617181920
    21222324252627
    28293031 

We use cookies to ensure that we give you the best experience on our website.