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
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:

NZ dollar weakens on global tensions, weak local manufacturing
General Capital (GEN:NZ) releases strong preliminary result
Burger Fuel turns to profit as it changes direction
Contact secures winter gas from OMV
Arrow International liquidators find $40M of notional assets
Forestry encroachment an issue for councils - Sage
NZSA concerned Kiwi Property paying too much in dividends
NZ food prices rise an annual 1.7% in May, rental inflation steady
Provincial centres lead the way in UFB uptake
Manufacturing grows at slowest pace in more than six years

IRG See IRG research reports