11 February 2009
AVIVA SELLS BSM TO ARQUES INDUSTRIES AG
Aviva plc ('Aviva') today announces that it has sold the British School of Motoring Limited and its subsidiaries ('BSM') to Arques Industries AG. The gross assets of the business, which is one of the UK's leading driving schools, total £36 million.*
Aviva acquired BSM - which operates a franchised network of around 2,700 driving instructors - as part of the purchase of RAC plc in 2005.
Aviva's UK general insurance CEO, Igal Mayer, said: 'This sale is part of our on-going programme to transform our UK general insurance business through an increased focus on our core insurance and vehicle breakdown activities, allowing us to provide a first-rate service to our customers. I'm delighted that we'll continue to have a working relationship with BSM in the future through a long-term arrangement to market our insurance products to BSM's customers.'
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*Unaudited as at 31 December 2008
Enquiries:
Media
Vanessa Rhodes, senior group media relations manager +44 (0)20 7662 2482
Sue Winston, head of media relations +44 (0)20 7662 8221
James Murgatroyd/Ed Simpkins, Finsbury +44 (0)20 7251 3801
Analysts
Charles Barrows, investor relations director +44 (0)20 7662 8115
Jessie Burrows, head of investor relations +44 (0)20 7662 2111
Susie Yeoh, investor relations manager +44 (0)20 7662 2117
Notes to editors: