At the start of a series of transactions that has seen Sun Life Assurance Company of Canada become sole shareholder in the joint venture PVI Sun Life, local partner PVI Holdings owned 51 per cent of stock in the joint venture while Sun Life Assurance had 49 per cent. Sun Life Assurance Company of Canada is a subsidiary of Sun Life Financial Inc., a leading Canada-based international financial services company. Nine months ago, the foreign partner acquired 26 percent of PVI Holdings' once commanding stake; in late-August Sun Life Assurance acquired PVI Holdings' remaining 25 percent. PVI Holdings, a unit under direct control of state-owned oil and gas conglomerate PetroVietnam, manages three insurance businesses: PVI Sun Life, PVI, and PVI Re. In addition to insurance, financial services are within its scope.