Aviva International Holding has transferred the entirety of its shares in Aviva NDB Finance Lanka Pvt Ltd to Aviva Asia Holdings Pvt Ltd. The transfer forms part of an internal re organisation of the Aviva Group’s businesses in the Asia Pacific region, Aviva NDB Insurance Ltd Plc said in a stock exchange filling.
As a result Aviva Asia now holds 58.44% of Aviva NDB Finance Lanka Pvt Ltd.
Aviva Asia is a wholly owned subsidiary of Aviva International Holdings, UK and is Aviva’s new Asian Holding company, incorporated on 1 October 2010 and has its registered office in Singapore.
The National Development Bank, Capital Development and Investment Company Plc , Aviva NDB Finance Lanka Pvt Ltd (ANFL) and Aviva International Holdings (AIH) had entered into a joint venture shareholders agreement in 2006 whereby AIH, UK held 58.44% of of ANFL and Capital Development and Investment Company (CDIC) 41.56%. The National Development Bank and CDIC said that the status quo of their relationships and agreements had not changed in a stock exchange filling.