BFW 12/02 07:09 Aviva to Buy Friends Life for GBP5.6b in Shares
MORE: Aviva Proposed Purchase Values Friends Life at 370p/Share
2014-12-02 07:23:23.765 GMT
By Chris Malpass
Dec. 2 (Bloomberg) -- Aviva says excluding payment to RCAP
in relation to value share and Friends Life’s proposed second
interim dividend payment in respect of the 2014 financial year
deal values each Friends Life Share at 394p.
* Says deal secures position as leading insurance company
* Deal seen generating ~GBP600m in excess cash flow/year
* Aviva expected to generate about GBP225m of run-rate cost
savings
* Aviva plans to pay 2014 final dividend of 12.25P/shr
* Deal may add up to ~GBP70b of Friends Life U.K. assets
* EARLIER: Aviva to Buy Friends Life for GBP5.6b in Shares
Statement
For Related News and Information:
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First Word newswire: NH BFW<GO>
--With assistance from Leon Mangasarian in Berlin.
To contact the reporter on this story:
Chris Malpass in Berlin at +49-30-70010-6234 or
cmalpass@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
2014-12-02 07:23:23.765 GMT
By Chris Malpass
Dec. 2 (Bloomberg) -- Aviva says excluding payment to RCAP
in relation to value share and Friends Life’s proposed second
interim dividend payment in respect of the 2014 financial year
deal values each Friends Life Share at 394p.
* Says deal secures position as leading insurance company
* Deal seen generating ~GBP600m in excess cash flow/year
* Aviva expected to generate about GBP225m of run-rate cost
savings
* Aviva plans to pay 2014 final dividend of 12.25P/shr
* Deal may add up to ~GBP70b of Friends Life U.K. assets
* EARLIER: Aviva to Buy Friends Life for GBP5.6b in Shares
Statement
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
--With assistance from Leon Mangasarian in Berlin.
To contact the reporter on this story:
Chris Malpass in Berlin at +49-30-70010-6234 or
cmalpass@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net