Deals
Axa Sees $3.1 Billion From Stake Sale in AXA Equitable Holdings
- Axa sells 144 million shares to sole underwriter Goldman Sachs
- Share sale to boost Axa’s solvency ratio, no earnings impact
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Europe’s second-largest insurer Axa SA said it expects proceeds of $3.1 billion from the sale of its remaining shares in AXA Equitable Holdings Inc.
The French insurer listed AXA Equitable Holdings last year to help finance the takeover of XL Group. It has since been selling shares in the U.S. company.