Manulife Financial Asia Limited entered into an agreement to acquire 90% stake Aviva Vietnam Life Insurance Co Ltd. from Aviva plc (LSE:AV.) on December 14, 2020. The consideration will be paid in cash. As part of the transaction, Manulife will enter into a new distribution agreement with Aviva Vietnam's existing exclusive bancassurance partner, Vietnam Joint Stock Commercial Bank. The transaction is subject to certain closing conditions including regulatory approval. As of September 9, 2021, the sale of the entire shareholding of Aviva Vietnam Life Insurance Limited is subject to regulatory approval and is expected in 2021. The transaction is expected to increase Aviva's IFRS Net Asset Value and Solvency II surplus by approximately £0.1 billion. J.P. Morgan Securities plc acted as Financial Advisor to Aviva plc. Citigroup Global Markets Limited acted as financial advisor to Aviva plc in the deal. Richard Smith and William Watson of Slaughter and May acted as legal advisor to Aviva plc (LSE:AV.) in the transaction. Morgan Stanley (NYSE:MS) acted as financial advisor to Manulife Financial Asia Limited. Credit Suisse acted as the Financial Advisor to VietinBank, who entered into a long-term distribution agreement with Manulife (Vietnam) Limited to establish an exclusive 16 year distribution partnership where VietinBank will distribute Manulife’s life, health, wealth and retirement insurance products across Vietnam. Manulife Financial Asia Limited completed the acquisition of a 90% stake in Aviva Vietnam Life Insurance Co Ltd from Aviva plc (LSE:AV.) on December 29, 2021.