Aviva Group has sold Aviva Investors Australia to NabInvest, the asset management arm of National Australia Bank, The Wall Street Journal reports. The deal, which is subject to regulatory approval, is likely to close in the third quarter of this year. The sale is part of Aviva’s strategy to focus on its 12 priority markets, with an emphasis on boosting its Asian regional hub in Singapore, adds Citywire. Aviva Investors Australia held about £3.5 billion in assets under management.
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