AXA finalizes the acquisition of 50% of Tian Ping

Announced in April 2013, the acquisition of 50% stake in Tian Ping, the chinese damage insurer, by the French AXA Group, has been finalized.

The transaction which cost 675 million USD, includes the acquisition of 33% stake for 330 million USD, and a subscription to a capital increase for an amount of 345 million USD.