Key Developments: Axa SA (AXAF.PA)

AXAF.PA on Paris Stock Exchange

19 Sep 2014
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Latest Key Developments (Source: Significant Developments)

Pacific Brands Limited Announces Ownership Interest Of AXA SA, AllianceBernstein Australia Limited And Various Bodies Corporate Controlled By AXA and ABAL
Friday, 27 Sep 2013 02:24am EDT 

Pacific Brands Limited announced that AXA SA, AllianceBernstein Australia Limited And Various Bodies Corporate Controlled By AXA and ABAL holds 45,910,858 number of person's votes which represents 5.03% of the voting power of the Company.  Full Article

Axa SA's Axa UK Sells Bluefin Personal Consulting to Towry-News Managers (L'Agefi)
Thursday, 5 Sep 2013 08:00pm EDT 

News Managers (L'Agefi) reported that British wealth management firm Towry has acquired Bluefin Personal Consulting, the dedicated financial planning affiliate of Axa SA's Axa UK, for an undisclosed total. The transaction is expected to be completed by the end of the year.  Full Article

Axa SA's Axa Real Estate Acquires Offices in Barcelona for EUR 172 Million; Signs Lease Agreement-News Managers (L'Agefi)
Thursday, 27 Jun 2013 08:00pm EDT 

News Managers (L'Agefi) reported that Axa SA's Axa Real Estate has announced the acquisition from Generalitat de Catalunya of a portfolio of offices located in Barcelona for EUR172 million. The portfolio includes 13 properties leased to government bodies. The office properties are all located in the Barcelona business centre and have a total floor area of over 105,000 square metres. The acquisition of 11 of the properties will be completed on June 28, 2013, while the purchase of two other properties will be completed in mid-July 2013. Generalitat will continue to occupy the properties, as it has signed a 20-year lease for annual rent of EUR16.2m.  Full Article

Befimmo SCA Signs Contribution Agreement with Axa SA's Axa Belgium SA for AMCA Building in Exchange for Its 2,037,037 New Shares
Tuesday, 18 Jun 2013 11:40am EDT 

Befimmo SCA announced that it signed with Axa SA's Axa Belgium a contribution agreement for the AMCA building in Antwerp including approximately 58,000 square meters of office space, 1,500 square meters of archives and 500 parking spaces. The building's conventional value has been set at EUR 110 million. The full ownership contribution of the AMCA building will result in an increase in Befimmo SCA's shareholders' equity by an amount of EUR 110 million and will be paid for by the granting Axa Belgium SA 2,037,037 new shares of Befimmo SCA, to be issued upon a capital increase completed within the authorized capital, which will take place at the contribution deed. The issue price of these new shares was set at EUR 54.00 per share. The new shares will have the same rights and benefits as existing shares, including participation in the full dividend for the current fiscal year. They will be listed in NYSE Euronext Brussels in July 2013.  Full Article

Axa SA's AGM Approves FY 2012 Dividend
Tuesday, 30 Apr 2013 11:48am EDT 

Axa SA announced that its Annual General Meeting approved the payment of a EUR 0.72 dividend per share for the fiscal year 2012 to be paid on May 14, 2013 (ex-dividend date: May 9, 2013) – dividend per share was EUR 0.69 for fiscal year 2011.  Full Article

Axa SA Announces Agreement to Buy 50% of Chinese Property & Casualty Insurance Company, Tian Ping
Wednesday, 24 Apr 2013 01:47am EDT 

Axa SA announced that it has entered into an agreement with Tian Ping Auto Insurance Company Limited (Tian Ping) shareholders to acquire 50% of the company. Under the terms of the agreement and subject to regulatory approval, Axa will buy 33% of the company from Tian Ping's current shareholders for RMB 1.9 billion (or EUR 237 million) and subscribe to a dedicated capital increase for RMB 2.0 billion (or EOR 248 million) to support future growth. Axa and Tian Ping's current shareholders will jointly control Tian Ping. Tian Ping has Property & Casualty licenses covering most Chinese provinces as well as a direct distribution license covering all these provinces and is mainly focusing on motor insurance.  Full Article

Axa SA Makes 450 Financial Consultants Redundant at UK Joint Venture-Reuters
Monday, 15 Apr 2013 08:00pm EDT 

Reuters reported that Axa SA has made 450 financial consultants redundant at a joint venture in the United Kingdom. Axa Sa will no longer offer financial advice to clients of its banking partners Co-operative Banking Group and Clydesdale and Yorkshire Banks.  Full Article

Protective Life Corp to Acquire MONY and Reinsure Certain Policies of MLOA for $1.06 Billion From AXA SA
Wednesday, 10 Apr 2013 08:04pm EDT 

Protective Life Corp announced that its principal subsidiary, Protective Life Insurance Company (Protective Life), has signed an agreement with certain subsidiaries of AXA SA to acquire MONY Life Insurance Company (MONY) and reinsure certain policies of MONY Life Insurance Company of America (MLOA). Assuming a closing date of October 1, 2013, the purchase price paid to AXA is estimated to be approximately $1.06 billion, including statutory capital and surplus of approximately $303 million. The total capital investment by Protective is estimated to be approximately $1.09 billion. The transaction will be subject to customary post-closing adjustments. The transaction is expected to close in the second half of 2013. Prior to the closing, AXA will cause MONY to transfer its subsidiaries, MLOA, U.S. Financial Life Insurance Company, MONY International Holdings, LLC and MONY Financial Services, Inc., none of which are being sold to Protective as part of the acquisition, to another subsidiary of AXA. Protective plans to service the acquired business through the existing workforce and administrative platform in Syracuse, NY that is currently being used by AXA to service the business. The benefits provided for in the acquired policies will not be impacted by the transaction. Willkie Farr & Gallagher LLP and Barclays PLC served as advisors to Protective during the transaction and PricewaterhouseCoopers LLP provided tax advisory services.  Full Article

Axa SA Announces Terms of Share Repurchase Program
Monday, 25 Mar 2013 01:16pm EDT 

Axa SA announced the terms of share repurchase program that will be submitted for approval at the annual general meeting on April 30, 2013. As part of the program, the Company will be able to buy back up to 10% of its share capital, representing 238,861,098 shares at a maximum price of EUR 35 per share. Taking into account, the shares already held, the Company will be able to buy back up to 236,814,940 shares as part of the program. The program will last for 18 months from the date of the annual general meeting.  Full Article

Axa SA to Sell Its French Assets and to Sell Stake in Its AXA Private Equity
Monday, 25 Mar 2013 03:42am EDT 

Axa SA announced that it has decided to sell portion of Axa SA's French real estate holdings, which include offices, shops, and commercial buildings, over the next two years, 2013 and 2014. Accordingly, the Company announced that it also expects to earn EUR 200.00 million (USD 259.94 million) of capital gain from a management buyout of its private-equity unit, as the Company has agreed to a deal that will leave it with a 26.9% stake in AXA Private Equity (AXA PE), while the unit's management and staff will own 40%. The proposed deal values AXA PE at EUR 510.00 million and is pending approval from staff representatives and regulatory authorities. Closing is due before the end of September 2013.  Full Article

UPDATE 1-Poland's mBank sells insurance arm to AXA in $175 mln deal

* Banks in Poland under pressure from low interest rates (Adds details, comment, share price)

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