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Sumitomo Life to acquire a 26% stake in Singlife from Aviva for £800m.

Announced

Transaction Tags

  • life insurance
  • Singapore
  • Life Insurance
  • Acquisition
  • Minority
  • Pending
  • Single Bidder
  • Disposal
  • Cross Border
  • Friendly
  • Private

Synopsis

Sumitomo Life, a mutual life insurance company, agreed to acquire a 26% stake in Singlife, a life insurance company, from Aviva, a multinational insurance company, for £800m. "This is a good outcome for Aviva. The transaction further simplifies the business and we are in a very strong position to build on our trading momentum in the UK, Ireland and Canada," Amanda Blanc, Aviva CEO.

Sources

Press Release

Aviva

Transaction Value

£800m

Consideration Type

Cash

Capital Owned

+ Add

Capital bid for

26%

EV/Sales

+ Add

EV/EBITDA

+ Add

Share Price Premium

+ Add
Service Providers (4)Dealmakers
Mori Hamada & Matsumoto

legal advisors

Mori Hamada & Matsumoto

Slaughter & May

legal advisors

Slaughter & May

Allen & Gledhill

legal advisors

Allen & Gledhill

Jp Morgan

financial advisors

Jp Morgan

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