Aviva PLC (AV.LN) said Wednesday it is selling its stake in life insurance and pension joint ventures Unicorp Vida and Caja España Vida, as well as in retail life-insurance business Aviva Vida y Pensiones, for 475 million euros ($515.9 million).
The sale follows a restructuring of the Spanish banking system, which started in 2010, the company said.
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Aviva will still have some exposure to the insurance sector in Spain after this divestment, it said.
Shares closed Tuesday at 535.50 pence.
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(END) Dow Jones Newswires
May 10, 2017 02:52 ET (06:52 GMT)