French insurer Axa SA (AXA) expects its proposed purchase of AXA Asia Pacific Holdings Ltd.'s (AXA.AU) Asian assets to become accretive in 2012, if it is financed by the group's planned EUR2 billion rights issue, Axa SA's chief financial officer said Monday.

The deal to acquire AXA Asia Pacific's Asian assets would amount to a cash consideration of about EUR1.1 billion, CFO Denis Duverne said during a conference call.

AXA Asia Pacific earlier Monday said it had rejected an A$11 billion cash and equity takeover proposal from Australian wealth manager AMP Ltd. (AMP.AU), which had planned to sell the company's Asian businesses to Axa SA.

-By Jethro Mullen, Dow Jones Newswires; 33 1 4017 1738; jethro.mullen@dowjones.com
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