AXA announced today that it has entered into an agreement with HSBC* to sell AXA Insurance Pte Ltd (“AXA Singapore”).
Under the terms of the agreement, AXA will sell AXA Singapore for a total cash consideration of USD 575 million (or Euro 487 million*).
The transaction is estimated to result in a negative net income impact of ca. Euro 160 million in AXA Group’ s FY21 consolidated financial statements.
The transaction is subject to closing conditions, including the receipt of regulatory approvals, and is expected to close by 4Q 2021.
