AXA and BNP Paribas mutually agree to terminate their shareholders' agreement
17.03.2014 | Financial Information
AXA and BNP Paribas announce their mutual decision to terminate their agreement concluded on August 5, 2010 in connection with their reciprocal shareholdings.
In force for an initial period of three years, this agreement was renewable automatically for successive periods of one year. The terms and conditions of this agreement were substantially the same as those of a previous agreement concluded in 2005, except with respect to a requirement in the 2005 agreement to maintain a minimum level of cross shareholdings*.
In this context, AXA and BNP Paribas reaffirm their intent to maintain their relationship and the continuity of their historical links and partnerships which have contributed to the success and growth of both Groups.
*Currently, the residual reciprocal shareholdings of AXA and BNP Paribas SA are lower than 0.1% of the share capital.
About the AXA Group
The AXA Group is a worldwide leader in insurance and asset management, with 160,000 employees serving 102 million clients in 56 countries. In 2013, IFRS revenues amounted to Euro 91.2 billion and IFRS underlying earnings to Euro 4.7 billion. AXA had Euro 1,113 billion in assets under management as of December 31, 2013.
The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA's American Depository Share is also quoted on the OTC QX platform under the ticker symbol AXAHY.
The AXA Group is included in the main international SRI indexes, such as Dow Jones Sustainability Index (DJSI) and FTSE4GOOD.
It is a founding member of the UN Environment Programme's Finance Initiative (UNEP FI) Principles for Sustainable Insurance and a signatory of the UN Principles for Responsible Investment.
About BNP Paribas
BNP Paribas has a presence in 75 countries with more than 180,000 employees, including more than 140,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across Mediterranean basin countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia-Pacific.