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AXA purchases remaining shares in Sun Life

Axa, the French insurance giant, has announced it is purchasing the remaining stake in Sun Life and Provincial Holdings it does not already own.


The company already owns 56.3 per cent of SLPH, this deal will give it control over the remaining 43.7 stake in the life office.


SLPH&#39s shareholders will receive 500 pence in cash, and a dividend of five pence for each ordinary share.


The deal, worth £2.3bn, will be discussed at SLPH&#39s annual general meeting, and will likely take effect in July.

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