AXA announced that it has entered into an exclusive negotiation to sell its asset manager AXA Investment Managers to BNP Paribas for cash proceeds of $5.5 billion. The transaction, announced Aug. 1, is expected to close by mid-2025. AXA, which is based in Puteaux, France, was represented by a Sullivan & Cromwell team including partners Rodgin Cohen, Mitchell Eitel and Nicolas Karmin. Counsel information for BNP was not immediately available.
Banking & Financial Services
August 06, 2024, 12:57 PM