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Friends Provident job losses not ruled out

Firm sold in multi-million pound deal

Job losses can't be ruled out following an agreement between Aviva and International Financial Group for the sale of Friends Provident.

That's according to IFGL Chief Executive David Kneeshaw.

He says a cross-company working party will be set up before the deal is completed to look at jobs, branding, and the location of both businesses.  

The purchase is expected to cost in the region £340 million pounds, but is still subject to regulatory approval.

Mr Kneeshaw told Manx Radio that at this stage, he couldn't give any guarantees: 

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