AXA Extends Talks with National Australia Bank on AXA Asia Pacific Deal

AXA, AXA Asia Pacific Holdings Limited (AXA APH) and National Australia Bank Limited (NAB) announced that they have agreed to “extend until July 15, 2010 end of day the agreement relating to the proposed transaction whereby NAB will acquire 100 percent of AXA APH, retain the Australian and New Zealand businesses of AXA APH and sell to AXA 100 percent of the Asian businesses of AXA APH.”

The bulletin pointed out that on April 19 the “Australian Competition and Consumer Commission (ACCC) announced that it would oppose the proposed transaction. AXA understands that NAB continues to pursue its options in relation to the ACCC objections.”

Source: AXA Group