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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