AXA : Selling operations in central Europe
>Selling central and eastern European operations to UNIQA for € 1bn - As expected, AXA announced on Friday evening that it had entered into an agreement with the Austrian insurer UNIQA, to sell it 100% of its operations (with the exception of those of AXA XL and AXA Partner) in Poland, the Czech Republic and Slovakia for € 1.002bn in cash. This price equates to an implied 2019 P/E of 12.4x (i.e. an implied 2019 IFRS net result of € 81m). The group has said that this ...AXA is a holding company. Through its subsidiaries, Co. is engaged in insurance and assets management. Co. operates primarily in Europe, North America, the Asia-Pacific Region and, to a lesser extent, in other regions including the Middle East, Africa, and Latin America. Co. has five operating business segments: Life & Savings, Property & Casualty, International Insurance, Asset Management, and Banking. In addition, various holding companies within the AXA Group conduct certain non-operating activities. As of Dec 31 2013, Co. had total assets of Euro757,143,000,000.
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