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UK insurer Aviva exits Spain with completion of stake sales

Reuters - UK Focus

July 11 (Reuters) - Britain's insurer Aviva Plc (Other OTC: AIVAF - news) on Wednesday said it had exited Spain with the completion of the sale of its stakes in joint ventures Cajamurcia Vida and Caja Granada Vida to Spanish state-owned lender Bankia SA (Amsterdam: QU8.AS - news) for 203 million euros ($238 million).

The company also said it agreed to sell its 50 percent stake in Spanish life insurance company Pelayo Vida to insurer Santalucía.

Aviva said in February it would sell its stakes in Cajamurcia Vida and Caja Granada Vida.

($1 = 0.8524 euros) (Reporting by Muvija M in Bengaluru; editing by Jason Neely)