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| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.44 | -1.38% | 31.43 | 31.31 | 31.60 | 32.00 | 30.50 | 32.00 | 5,611,738 | 16:40:00 |
From May 2019 to May 2024
By Inti Landauro
PARIS--French insurance company AXA SA (CS.FR) said Wednesday it agreed to sell its Hungarian banking unit to OTP Bank (BISI.RS) as part of a strategy to exit the banking business in most of Europe.
The sale will result in an 80 million euro ($87 million) loss that it made a provision for in its 2015 accounts, AXA said in a statement. The company will report 2015 earnings later this month.
The sale is the final step in AXA's plan to exit the banking business in most of Europe while focusing on its Belgian unit.
The transaction is expected to be completed in the second half of the year and still requires approval from regulators and antitrust authorities.
Write to Inti Landauro at inti.landauro@wsj.com
(END) Dow Jones Newswires
February 03, 2016 02:17 ET (07:17 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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