Voya Rises on Clearance to Sell Unit, Plan for $150M Buyback

Voya Rises on Clearance to Sell Unit, Plan for $150M Buyback


Voya Rises on Clearance to Sell Unit, Plan for $150M Buyback
Voya traded higher after receiving regulatory clearance to sell a division and saying that it entered an accelerated-buyback accord.
Author:
Voya Financial  (
VOYA) - Get Report rose Thursday after the New York financial-services group received regulatory clearances to complete the sale of its individual-life and nonretirement legacy annuities business to Resolution Life.
And the company also said it entered an accelerated share-buyback agreement.
The deal, unveiled a year ago and valued at $1.25 billion, is expected to close on Jan. 4. After the closing, Voya Financial will also hold a $225 million stake in Resolution Life.

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