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Aviva takes an extra 23 pct stake in India JV

Reuters - UK Focus

May 3 (Reuters) - Insurer Aviva said on Tuesday it had purchased an additional 23 percent share in Aviva Life Insurance Company India Limited from joint venture partner Dabur Invest Corp.

The acquisition, which takes Aviva (Other OTC: AIVAF - news) 's stake to 49 percent, followed a recent regulatory change in India. It (Other OTC: ITGL - news) will have a neutral impact on Aviva's net assets, the company said in a statement.

Aviva India contributed 36 million pounds ($52.96 million) to Aviva's net assets in 2015 and 4 million pounds to profits, it added.

($1 = 0.6797 pounds) (Reporting by Maiya Keidan; editing by Simon Jessop)