AXA takes over at SBJ

by David Masters

Story link: AXA takes over at SBJ

AXA have reported that their attempt to purchase SBJ Group has been successful after their offer was accepted by 90% of the group’s shareholders.

The offer has been accepted unconditionally in every respect, but is being kept open for additional acceptances until further notice.

The FSA have approved the purchase, which means that AXA can now take formal control of SBJ.

AXA’s chief executive Nicolas Moreua, said of the acquisition: “I am delighted that our acquisition of SBJ Group has been successful. This marks a significant step in our strategy to build a leading advisory services and broking business in the UK.

“The addition of SBJ strengthens our position in the market and represents an exciting opportunity for SBJ and AXA.”