AXA's stakes in Paribas, BNP may yield insurer prize catch in merger
Article Abstract:
Claude Bebear, the chairman of AXA, turned the once small and provincial insurance firm into a major entity in Europe. Mr. Bebear would be entering into a major league if Banque Nationale de Paris SA succeeds in its $37 billion hostile offer to join the merger between Societe Generale SA and Paribas SA. AXA has significant shares in both Paribas and BNP. The company could be a stockholder in the merged firm. Mr. Bebear is expected to be a major presence in the merger negotiations.
Comment:
AXA chmn Claude Bebear expected to be major presence in the Societe Generale-BNP-Paribas merger negotiations
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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AXA may sell Guardian business
Article Abstract:
Sun Life & Provincial Holdings PLC is engaged in negotiations to sell off its life-insurance unit, Guardian Royal Exchange, to Aegon NV. However, the negotiations with Aegon could still fall apart. Sun Life has been studying the possibility of selling Guardian since AXA's purchase of Guardian in May 1999. Sun Life has commissioned Donaldson Lufkin & Jenrette to manage incoming offers.
Comment:
Sun Life and Provincial Holdings engaged in negotiations to sell life-insurance unit, Guardian Royal Exchange, to Aegon
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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Allianz faces hurdle to sale of stocks
Article Abstract:
Allianz AG plans to sell off some of its equity holdings are experiencing difficulty because of high tax rates. The company's equity holdings are valued at $40 billion (37.3 bilion euros). The high tax rates make it difficult for Allianz to sell shares in companies like Schering AG and Dresdner Bank AG. Capital gains are taxed under tax laws in Germany.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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