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Aviva boosts stake in Indian JV to 49%

AvivaPlc closed the acquisition of an additional 23% stake in from joint venture partner Dabur Invest Corp.

The acquisition boosted Aviva's stake in Aviva LifeInsurance to 49%, the maximum level of foreign direct investment in Indian insurers underlaw.

The transaction is expected to have a neutral impact onAviva's IFRS net assets. In 2015, Aviva Life Insurance contributed £36 millionto Aviva's IFRS net assets and £4 million to its profits.