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UK insurer Aviva sells US unit to Athene Holding

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December 21, 2012 05:51 AM EST | AP


LONDON — British insurer Aviva PLC is selling its U.S. unit to Bermuda-based Athene Holding Ltd. for $1.8 billion.

Aviva said Friday that it would net $1.55 billion after paying off debts from the sale of Aviva USA Corp.

Aviva shares were up 0.6 percent at 386.3 pence in midmorning trading in London.