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AXA Announces the Squeeze-Out of the Minority Shareholders of AXA Konzern AG and Other Streamlining Operations in Germany.

Publication: PR Newswire
Publication Date: 15-MAY-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
PARIS, May 15 /PRNewswire-FirstCall/ -- AXA announces the squeeze-out of the minority shareholders of its German subsidiary AXA Konzern AG ("AXA Konzern"), whereby it will acquire the 3.2% of AXA Konzern shares it does not already own at a price of Euro 134.54 per ordinary share and preference share.(1)

As announced on December 21, 2005, AXA ran a voluntary public offer to purchase AXA Konzern shares from minority shareholders at a price of Euro 129.30 per ordinary and preference share between January 9, 2006 and February 27, 2006. The offer was a success, with AXA reaching a direct and indirect holding of 96.8% of the share capital of AXA Konzern as of the end of the offer period, thereby exceeding the 95% threshold that is a condition to launching a minority...

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