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Guggenheim Partners In Exclusive Talks To Acquire Aviva US Unit-Newspaper

Date : 11/18/2012 @ 10:06PM
Source : Dow Jones News
Stock : Apollo Global Management, Llc Class A Common Shares Representing Class A Limitied Liability Company Interests (APO)
Quote : 28.31  0.14 (0.50%) @ 3:30AM
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Guggenheim Partners In Exclusive Talks To Acquire Aviva US Unit-Newspaper

Aviva (LSE:AV.)
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U.S. investment firm Guggenheim Partners is in exclusive talks to acquire the U.S. arm of U.K. insurer Aviva PLC (AV.LN), the Sunday Telegraph reports without citing sources.

The newspaper says Guggenheim's life unit, working with Apollo Global Management LLC, has beaten competition from Harbinger Capital Partners, the hedge fund whose investment strategy is run by Philip Falcone, which was also bidding for the business.

Aviva put its U.S. business up for sale earlier this year as part of a broader restructuring program which has also involved significant headcount reduction.

Representatives of Aviva and couldn't be reached for comment Sunday.

Full story:

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/insurance/9685667/Guggenheim-in-line-to-snap-up-Aviva-USA.html

Write to London bureau at generaldesklondon@dowjones.com

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