XL Group Ltd (XL.N)
21 May 2018
PARIS AXA said on Monday it had secured financing for the 12.4 billion euros ($14.9 billion) acquisition of XL Group and was not dependent on the issuance of any additional debt following the flotation of part of its U.S. unit, AXA Equitable.
PARIS, May 14 AXA said on Monday it had secured financing for the 12.4 billion euros ($14.9 billion) acquisition of XL Group and was not dependent on the issuance of any additional debt following the flotation of part of its U.S. unit, AXA Equitable.
NEW YORK/PARIS AXA's listing of its U.S. division raised less than targeted, but the French group said the proceeds were enough to ensure it can pursue a $15.3 billion acquisition of XL Group.
* AXA Equitable stock below IPO price, AXA flat (Adds Jefferies note, link to Breakingviews column)
* Q1 EARNINGS PER SHARE VIEW $0.97 -- THOMSON REUTERS I/B/E/S
* Proceeds to help finance AXA's takeover of XL (Adds comments from analyst, further detail)
PARIS French insurer AXA said it had received $3.2 billion following the completion of internal, restructuring deals - such as the repayment of loans - ahead of the planned initial public offering (IPO) of its U.S. unit.
PARIS French insurer AXA is restructuring its Swiss business in a move that would hit its results in the short term, but is expected to give it more financial flexibility ahead of the $15 billion acquisition of XL Group .
* But will lead to enhanced cash remittance to AXA (Updates with details, comment)
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