OREANDA-NEWS. January 9, 2013. Placing of 34,288,795 Delta Lloyd ordinary shares
Offering represents Aviva’s entire remaining stake in Delta Lloyd, approximately 19.4% of Delta Lloyd’s issued ordinary share capital
Gross cash proceeds for Aviva of  GBP 353 million
The transaction will increase the Group’s economic capital surplus coverage ratio by approximately 4% to 169%, strengthen Aviva's balance sheet and increase liquidity
The Offering was completed very successfully with strong investor demand and priced at a narrow discount to the closing price. The transaction was several times oversubscribed, and represented a 1.6% discount to the closing price

Further to the announcement earlier today by Aviva plc (“Aviva”) of its intention to sell the remainder of its shareholding in Delta Lloyd NV (“Delta Lloyd”), Aviva announces that it has successfully priced the sale of its entire remaining stake in Delta Lloyd at an offer price of EUR 12.65 per share, resulting in gross cash proceeds of GBP 353 million. The disposal consisted of a private placement of 34,288,795 Delta Lloyd ordinary shares to qualified institutional investors (the “Offering”).

The transaction will increase Aviva’s economic capital surplus coverage ratio by approximately 4% points to 169%. Cash proceeds will increase central group liquidity and will be used for general corporate purposes.

Following completion of the Offering, Aviva will no longer hold any stake in Delta Lloyd.