TOP NEWS: Aviva To Sell Interest In Vietnam Business To Manulife
Mon, 14th Dec 2020 09:05
(Alliance News) - Aviva PLC on Monday said it has agreed to sell its entire shareholding in its Vietnam unit to Manulife Financial Asia Ltd - which is part of Canadian insurance firm Manulife Financial Corp - for an undisclosed sum.
The sale of Aviva Vietnam Life Insurance Co Ltd is part of the FTSE 100 life and general insurer s strategy to focus on its strongest businesses in the UK, Ireland and Canada, while reducing its focus in Asia and Europe.
On Thursday last week, Aviva announced the completion of the sale of its Hong Kong joint venture Aviva Life Insurance Co Ltd to its partner Hillhouse Capital Ltd. It had said that disposal was the fourth this year as part of its simplification strategy.
UK TOP NEWS SUMMARY: AstraZeneca In USD39 Billion Deal For Alexion
Mon, 14th Dec 2020 10:58
(Alliance News) - The following is a summary of top news stories Monday.
COMPANIES
AstraZeneca, which is finalising a vaccine against Covid-19, said Saturday it was buying US biotech firm Alexion Pharmaceuticals for USD39 billion to boost its work on immunology. Alexion has established itself as a leader in complement biology, bringing life-changing benefits to patients with rare diseases, AstraZeneca Chief Executive Pascal Soriot said in a statement, announcing the year s biggest deal in the pharma sector. We look forward to welcoming our new colleagues at Alexion so that we can together build on our combined expertise in immunology and precision medicines to drive innovation that delivers life-changing medicines for more patients, he said. Both boards have agreed to the cash-and-stock deal, which values Alexion at USD175 a share, a premium of 45% to the Boston-based company s closing
LONDON BRIEFING: Pound Jumps As UK And EU Agree To Continue To Talk
Mon, 14th Dec 2020 08:05
(Alliance News) - The pound rose sharply after the UK and EU agreed on Sunday to waive their self-imposed deadline for a post-Brexit trade agreement and continue talking, possibly right up to the end of the transition period on December 31.
Against the dollar, the pound was up one-and-a-half US cents early Monday from its level late on Friday as the Sunday deadline had loomed.
Also in focus for the stock market early Monday was takeover activity, after AstraZeneca announced a massive acquisition in the US, while an American video-games giant waded in with an agreed offer for the UK s Codemasters.