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AXA Announces Its Intention to Acquire Shares From Minority Shareholders of Its German Subsidiary AXA Konzern AG.

Publication: PR Newswire
Publication Date: 21-DEC-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
PARIS, Dec. 21 /PRNewswire-FirstCall/ -- As part of the streamlining of the legal structure of its German subsidiaries, AXA announces its intention to acquire the 7.24% of AXA Konzern AG (Germany) shares it does not already own.

AXA proposes to offer Euro 129.3 per AXA Konzern AG ordinary share and preference share, which represents a premium of 55% compared to the closing ordinary share price as of December 20, 2005 at the floor trading of the Frankfurt stock exchange.

This premium eliminates the illiquidity discount affecting AXA Konzern AG's current share price and takes into account the recent operating performances of AXA Versicherung, AXA Lebensversicherung and AXA Krankenversicherung.

This offer is subject to procedure of control by the Bundesanstalt fur Finanzdienstleistungsaufsicht (BaFin).

If AXA's holding in AXA Konzern AG share capital reaches 95% at the end of the offer, AXA will consider a delisting of AXA Konzern AG through a "squeeze- out" procedure, bringing its holding to 100%. Should the 95% threshold not be reached, AXA...

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