AXA: takes control of 100% of AXA Tianping
(CercleFinance.com) - AXA announces that it has completed the acquisition of the residual 50% stake in Axa Tianping.
The acquisition of this 50% stake has cost 4.6 billion RMB (i.e. 584 million euros).
Subject to obtaining regulatory authorisations, 1.5 billion RMB (or 190 million euros) of the acquisition's total amount would be financed by a capital reduction of AXA Tianping, followed by a repurchase of shares of its current local shareholders.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The acquisition of this 50% stake has cost 4.6 billion RMB (i.e. 584 million euros).
Subject to obtaining regulatory authorisations, 1.5 billion RMB (or 190 million euros) of the acquisition's total amount would be financed by a capital reduction of AXA Tianping, followed by a repurchase of shares of its current local shareholders.
Copyright (c) 2018 CercleFinance.com. All rights reserved.