PARIS, Aug. 9 /PRNewswire-FirstCall/ -- AXA announced today that AXA Asia Pacific Holdings Limited (AXA APH) and National Australia Bank Limited (NAB) have been advised by the Australian Competition and Consumer Commission (ACCC) that it will be conducting market enquiries regarding proposed enforceable undertakings offered by NAB and AXA APH in relation to concerns raised by the ACCC with respect to NAB's proposed acquisition of 100% of AXA APH and subsequent divestment of 100% of AXA APH's Asian businesses to AXA (the "proposed transaction"). NAB and AXA APH have been in consultation with the ACCC since April 19, 2010 when the ACCC announced that it would object to the proposed transaction.
Extension of AXA APH Proposal Following ACCC Announcement to Conduct Market Enquiries
PARIS, Aug. 9 /PRNewswire-FirstCall/ -- AXA, AXA Asia Pacific Holdings Limited (AXA APH) and National Australia Bank Limited (NAB) have agreed to extend until September 9, 2010 end of day the period for NAB to satisfy the concerns raised by the Australian Competition and Consumer Commission (ACCC) with respect to NAB's proposed acquisition of 100% AXA APH and subsequent divestment of 100% of AXA APH's Asian businesses to AXA.
This follows the ACCC's announcement today that it currently anticipates announcing a final decision on the proposed undertakings offered by NAB and AXA APH by September 9, 2010, following the market enquiries.
Francois Pierson to Fully Dedicate Himself to His Role of Global Head of AXA's P&C Insurance Operations
PARIS, Aug. 4 /PRNewswire-FirstCall/ -- AXA announced today that Francois Pierson will fully dedicate himself to his role of Global Head of AXA's P&C insurance operations and that Nicolas Moreau will become Chief Executive Officer of AXA France.