French insurer Axa (AXA) Friday said it is buying out the minority interests held by the European Bank for Reconstruction and Development, or EBRD, in the Winterthur entities that Axa bought in 2006.

Axa will buy the EBRD's minority interests for EUR147 million in a transaction entirely funded by cash.

The transaction is expected to take place in the first half of 2010.

Company Web site: www.axa.com

-By William Horobin, Dow Jones Newswires; +33 1 401 1740; william.horobin@dowjones.com
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