Aviva to go ahead with Delta Lloyd IPO
NETHERLANDS - Aviva has today confirmed it will float Delta Lloyd in a Dutch shareholder offering, although the parent group will continue to hold the majority share in the firm.
Aviva group announced in August it was planning to list Delta Lloyd on the Euronext Amsterdam stock exchange, to give the company more capital ahead of what the firm predicted would be consolidation in the Dutch insurance market. (See earlier IPE story: Aviva to float Delta Lloyd)
The group also said Delta Lloyd would "benefit from a new shareholder base supportive of the company's growth ambitions in the Benelux region".
Today's announcement stated the IPO is expected to become completed next month, although the exact percentage of shares to be sold by Aviva is unclear at this stage.
The parent group currently has a 92% shareholding in Delta Lloyd, which had €63.1bn in assets under management at the end of June.