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Aviva acquires HPI Group Holdings Ltd in the UK.

Publication: M2 Presswire
Publication Date: 16-AUG-04
Format: Online - approximately 590 words
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-16 August 2004-Aviva plc: Aviva acquires HPI Group Holdings Ltd in the UK(C)1994-2004 M2 COMMUNICATIONS LTD

RDATE:08162004

Aviva plc ("Aviva") announces that Norwich Union Insurance ("NUI"), its UK general insurance business, has acquired the entire share capital of HPI Group Holdings Ltd ("HPI") from Phoenix Equity Partners for GBP118.5 million in cash and GBP1.5 million in loan notes.

HPI is the UK`s leading provider of vehicle status checks for used-car purchasers in the UK with around 60% market share. In 2003, there were 6.8 million used-car...

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