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20 March 2008 AXA Advisory Holdings today announces that its offer to purchase SBJ Group has been successful following acceptance by over 90% of the shareholders of SBJ. The offer is now unconditional in all respects but will remain open for additional acceptances until further notice.
Furthermore, the required FSA approvals have also been received, meaning that AXA has taken formal control of the group. Nicolas Moreau, Chief Executive of AXA said: ‘I am delighted that our acquisition of SBJ Group has been successful. This marks a significant step in our strategy to build a leading advisory services and broking business in the UK. The addition of SBJ strengthens our position in the market and represents an exciting opportunity for SBJ and AXA.’
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