TIMELINE: Key events in AXA expansion

Mon Nov 9, 2009 12:27pm GMT
 
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(Reuters) - The majority-owned Asian arm of French insurer AXA SA on Monday rejected a $10.3 billion bid from its parent and Australian rival AMP Ltd.

Following are some key events in the expansion of AXA SA in the last five years:

August 2004 - AXA fails in a A$3.1 billion ($2.2 billion) bid for its Australian affiliate, AXA Asia Pacific Holdings Ltd.

June 2006 - Buys insurer Winterthur from Credit Suisse for 13.4 billion Swiss francs ($10.9 billion).

March 2007 - Buys part of Italy's Banca Monte dei Paschi di Siena's insurance and related businesses for 1.2 billion euros ($1.6 billion).

February 6, 2008 - Buys local partner Oyak out of its Turkish insurance joint venture for $525 million.

February 12 - Buys Dutch banking group ING's Mexican insurance business, Seguros ING for about $1.5 billion.

November 9 - AXA Asia Pacific rejects a $10.3 billion bid from parent AXA SA and Australian rival AMP Ltd.

- Launches a rights offer to raise 2 billion euros ($2.98 billion) to part fund acquisition plans.

(Writing by Carl Bagh, Editorial Reference Unit, Bangalore; Editing by David Cowell)

 

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