Post Magazine - Aviva boss Harvey hails deal as "important strategic move"

Post Magazine - Aviva boss Harvey hails deal as "important strategic move": "Aviva boss Harvey hails deal as 'important strategic move'
Norwich Union's parent Aviva has announced that it has agreed to acquire AmerUs Group in a transaction recommended by the board of AmerUs, for approximately $2.9 bn (�1.6 bn) in cash, financed by a �900m equity placing, internal resources and external debt.
In a statement it said the acquisition of AmerUs will transform Aviva�s US business, establishing a 'leading position in a high-growth segment of the world�s largest savings market'.
AmerUs will be merged with Aviva USA and the combined team will be led by Tom Godlasky, CEO of AmerUs. The headquarters will be in Des Moines, Iowa, and the combined business will be called Aviva. The acquisition will be financed partly by a �900m underwritten placing of new Aviva shares, further details of which are being separately announced today, and the balance from internal resources and external debt.
Richard Harvey, group chief executive of Aviva said: �I�m pleased to announce both a strong trading update and an important strategic move to transform our US business with the acquisition of AmerUs.
�AmerUs is a well-managed, innovative and fast-growing business. This acquisition establishes a leadership position within a key segment of the world�s largest long-term savings market. In a single move the combination of AmerUs� national distribution networks and the resources and expertise of Aviva, provides the platform for significant profitable growth in the US.� . "