Sharechat Logo

Axa returns to core business

By Campbell McIlroy

Friday 29th September 2000

Text too small?
Axa New Zealand has been tipped to announce the sale of three of its lending institutions next week in what is seen as a move back to basics for one of the country's largest financial institutions.

Axa is understood to have negotiated the sale of HLNZ residential mortgage lending, Freedom Financial Services and the National Mutual fund management lending division. The deal was negotiated by MacQuarrie Bank in Wellington.

No details have been made available on whom the businesses were sold to or what the sale price was.

The move was not unexpected as Axa had signalled its intention to get out of some of its non-core businesses at its last results announcement. Analysts suggested the move was consistent with Axa's strategy at that time.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MARKET CLOSE: Blue-chip stocks Meridian, A2 lead market lower
NZ dollar rises on Brexit hopes, rate cut reassessment
Three not failing, just needs a new owner - MediaWorks CEO
Major investors back new CBL class action targeting directors
Rip Curl purchase a done deal on Kathmandu proxies alone
Comvita chair Neil Craig eyes the exit once he finds a new CEO
Mercury raises guidance on increased storage, high spot prices
Eroad reports strong 3Q sales growth, eyes ASX listing
MediaWorks puts TV business on the block
NZ dollar benefits as preliminary Brexit deal improves risk appetite

IRG See IRG research reports