Aviva narrows focus in Turkey with disposal

25th Mar 2014 07:41

Insurance group Aviva has sold its Turkish unit Aviva Sigorta to a private equity consortium led by EMF Capital Partners.Aviva said it is part of its strategy to "narrow the group's focus on businesses where it has a leadership position and can generate attractive returns".The sale, which is subject to regulatory approvals, is expected to complete in the first half of 2014.However, the group reassured that AvivaSA, its life and pensions business in Turkey, will be unaffected by the deal."AvivaSA is a key growth business for the group, one of Aviva's future cash generators and a leading life and pensions provider in Turkey."BC