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Cevian Capital Sold Its Whole Stake in Aviva

By Elena Vardon


Cevian Capital has exited its whole position in Aviva, the Stockholm-based financial investor told Dow Jones Newswires on Thursday.

"Over the past few years, Aviva has transformed from a poorly performing conglomerate to a focused and well-performing insurance company," Niko Pakalen, partner at Cevian Capital, said in a statement.

Pakalen said that the British insurer has "produced strong shareholder returns, including substantial distributions of excess capital" and that the company is "now well positioned for continued success, which isn't reflected in today's share price."

Activist investor Cevian had a 5.01% stake in Aviva as of Dec. 31 and had reduced it to under 5% at March 3, according to Aviva's 2022 annual report.

A spokesperson for Aviva confirmed to Dow Jones Newswires that Cevian informed it on Thursday that it sold its stake.


Write to Elena Vardon at


(END) Dow Jones Newswires

May 25, 2023 11:06 ET (15:06 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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