Ex-AIA boss seeks PE backing to buy Aviva’s non-core businesses
Former AIA CEO Mark Wilson is trying to raise private equity funding to bid for Aviva’s non-core emerging markets business, The Financial Times, reported, citing people familiar with the situation. The UK firm is considering a sell-off of its smaller Asian and Eastern European interests as it refocuses on 12 core markets.
The Asia businesses, including Singapore, Malaysia, South Korea, Indonesia, Sri Lanka and Hong Kong, are collectively valued at more than $400 million. This is four times the estimated value of Aviva's...
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