Aviva To Sell Full Stake In Indonesia JV PT Astra Aviva Life To Partner PT Astra

(RTTNews) - Aviva plc (AV.L, AV) announced Friday its agreement to sell entire stake in its joint venture in Indonesia, PT Astra Aviva Life, to joint venture partner, PT Astra International Tbk. The deal will mark Aviva's exit from the country.

The transaction is expected to complete in the fourth quarter of 2020, subject to certain closing conditions, including regulatory approval in Indonesia.

The deal is also conditional on the completion of Bangkok Bank Public Company Limited's acquisition of PT Bank Permata Tbk, Aviva Indonesia's bancassurance partner.

The shareholders of Bangkok Bank approved the acquisition of Permata Bank on March 5.