French insurer AXA said it expected to book net proceeds of $3.1 billion from the sale of a 29% stake in AXA Equitable Holdings (EQH) as it exits its U.S. life insurance business. AXA, the second-largest European insurer after Germany’s Allianz , has been gradually divesting from EQH to raise funds to pay for its $15 billion acquisition of Bermuda-based rival XL last year. AXA said in a statement on Friday it had sold 144 million EQH shares at $21.80 per share to Goldman Sachs , the sole underwriter in a secondary public share offering expected …read more
Source:: Yahoo Finance
