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News focus - Acquisitions - It's official: AXA will buy Winterthur from Credit Suisse in $9.8bn deal.
(From Reinsurance)
AXA has agreed to acquire Winterthur for 12.3bn Swiss francs ($9.8bn), following a period of speculation about the chances of such a deal going through.
"This transaction is a unique opportunity to reinforce our leading position in our core European market and to increase our presence in high-growth markets, notably in Central and Eastern Europe and in Asia," said Henri de Castries, AXA group chief executive, in a statement released about the deal. "The complementarity of our organisations and the strong cultural fit between our teams will facilitate the integration of Winterthur, and will drive value creation for our shareholders. I am confident that the combined efforts of AXA and Winterthur's many talented and dedicated professionals will very positively contribute to our company growth, on top of our existing Ambition 2012 target."
AXA announced that it had entered into a definitive agreement with Credit Suisse ...
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- Magazine article from: Money Marketing March 6, 2003 700+ words
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