Aviva set to complete £3.7bn takeover of Direct Line after CMA decision

Aviva shareholders will own approximately 87.5% of the new company while Direct Line shareholders will own about 12.5% -

Aviva's £3.7 billion acquisition of competitor Direct Line is on track to be finalised next month, following what the insurer has described as "constructive" discussions with the Competition and Markets Authority (CMA).

While the CMA is scheduled to release its initial findings from the phase one investigation on July 10, Aviva has expressed confidence in securing approval for the deal.