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Axa Said to Plan Wealth Sales That May Fetch $715 Million

  • Standard Life said to be bidding for Axa's Elevate unit
  • French insurer may reach agreement on sales by end of month
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Axa SA, France’s largest insurer, is in talks to sell most of its U.K. life-insurance and wealth-investment units, according to two people with knowledge of the matter.

Axa is likely to sell parts of the businesses, known collectively as Axa Wealth, to separate bidders in deals that may raise 500 million pounds ($715 million) to 700 million pounds, said the people, who asked not to be identified because the information is private. Standard Life Plc is bidding for Elevate, Axa’s platform for helping U.K. independent financial advisers manage clients’ investments, the people said.