CDIC divests 1.5mn Aviva shares; Aviva-AIA deal expected to go through this week

NDB Capital Holdings PLC (CDIC) is believed to have divested 5 % stake of Aviva NDB Insurance PLC (CTCE) today as a part of the Aviva- American International Assurance Company (AIA) deal which is expected to occur either today or during the course of the week, informed sources said.

According to brokers, CDIC today sold 1.5 million shares of CTCE to AIA, each share at Rs.349.

In September, AIA said that it was paying US$ 109 million for the 92.3% stake in CTCE held by Aviva UK (51%) and National Development Bank and its subsidiary, CDIC (41.3%).