AXA To Subscribe To AXA Asia Pacific Holdings' Capital Hike
March 17 2009 - 4:42AM
Dow Jones News
French insurer AXA SA (AXA) said Tuesday it will subscribe for
its share, approximately 53.1%, of the A$660 million capital
increase announced by AXA Asia Pacific Holdings this morning,
corresponding to an amount of approximately EUR178 million for AXA
SA.
This operation has no impact on the Group's Solvency I ratio and
no material impact on AXA SA's liquidity position, because AXA Asia
Pacific Holdings will use a portion of the proceeds from this
capital increase to repay approximately EUR107 million of
outstanding debt to AXA SA.
Company Web site: www.axa.com