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CS Axa

31.32
-0.55 (-1.73%)
Last Updated: 15:32:04
Delayed by 15 minutes
Share Name Share Symbol Market Type
Axa EU:CS Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.55 -1.73% 31.32 31.31 31.32 32.00 30.50 32.00 3,418,401 15:32:04

AXA Buys Majority Stake in Nigeria's Mansard Insurance PLC

28/11/2014 9:39am

Dow Jones News


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By William Horobin

PARIS--AXA SA (CS.FR) said Friday it will buy a majority stake in Nigeria's Mansard PLC (MANSARD.LA) as the French insurer seeks to expand in Africa.

AXA will pay EUR198 million ($312 million) to acquire all of Assur Africa Holdings, which owns a 77% stake in Mansard Insurance.

After the acquisition, which is due to close at the end of 2014, AXA would become the number four insurance player in Nigeria.

"AXA would have the opportunity to further strengthen its presence in Africa and enter the fast-growing Nigerian insurance market," the French company said.

-Write to William Horobin at william.horobin@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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