AXA: sets price for sale of remaining EQH stake

(CercleFinance.com) - AXA has announced that the net price for the sale of the 144 million common shares of AXA Equitable Holdings (EQH) to Goldman Sachs, the sole guarantor bank, as part of a secondary offer of these shares, has been set at 21.
80 dollars per share.

The offer is scheduled to close on Wednesday 13 November. As part of it, EQH has agreed to buy back from the guarantor bank 24 million shares out of the 144 million, at a price equal to that paid by the guarantor bank to AXA.

AXA's total net proceeds from the sale are expected to be about 3.1 billion dollars. The deal is expected to have a positive impact on its estimated solvency II ratio that amounts to six points, although there will be no significant impact on its net income.


Copyright (c) 2019 CercleFinance.com. All rights reserved.