LONDON (dpa-AFX) - The UK's Competition Market Authority or CMA said on Thursday that it is investigating Aviva Plc's (AV.L, AV) proposed acquisition of AIG Life Limited, raising concerns that the merger may result in curtailing competition.
In order to assess the impact of the merger, the regulator has invited opinion on the proposed transaction from any interested party, which can submit its comments on or before February 22.
On September 25, 2023, Aviva, a financial services and insurance company, had announced that it was planning to buy AIG Life Limited from Corebridge Financial Inc, a unit of American International Group, Inc. for 460 million pounds.
Aviva expects to gain significant financial benefits from this transaction thereby strengthening its prospects in the UK protection market.
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