France’s AXA Group announced that it has completed the acquisition of 36.7 percent of the share capital of RESO GARANTIA, Russia’s second largest P&C insurer.
The transaction, which was announced on December 21, 2007, closed on June 17, 2008 (See IJ web site – https://www.insurancejournal.com/news/international/2007/12/27/85929.htm).
AXA also has an option to buy out the remaining shareholders “through calls exercisable in 2010 and 2011,” the company said, when the deal was announced. “AXA and RESO’s shareholders have also agreed to form a joint venture to develop an operation on Russia’s emerging life & savings market.
Source: AXA – www.axa.com
Topics Mergers & Acquisitions AXA XL
Was this article valuable?
Here are more articles you may enjoy.
Brightline Lands $350 Million Assured Loan in Case of Bankruptcy 
Nuclear Verdicts Go Boom, Increase 40.7% in 2025 
Florida Bans Flock Cameras, License Plate Readers From State Roads 
PG&E to Defer $2 Billion of Work After California Shelved Fire Bill 
