Axa acquires Winterthur in £5.4bn deal
Axa has agreed to acquire Winterthur for CHF12.3bn (Euro 7.9Bn) (£5.4bn) "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 officer, in a statement this morning.
"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
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