Aviva on Sunday night agreed to sell its Australian life and wealth management businesses to National Australia Bank for up to A$925m (£450m). The UK insurer, which put the business up for sale this year, received final offers from up to four parties, with Australian insurer AMP battling it out with NAB in the final hours. Aviva had sought a sale price of up to A$1bn as it sought to bolster its capital base.

This entry was posted by Gwen Robinson on Monday, June 22nd, 2009 at 5:03 and is filed under Capital markets, M&A. Tagged with aviva, nab. Edit this entry.