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Europe Daily Bulletin No. 9211

15 June 2006
Contents Publication in full By article 39 / 48
ECONOMIC INTERPENETRATION / (eu) banking

The French group AXA has acquired WINTERTHUR (CREDIT SUISSE group) for €8.9 billion. This sum is 11.6 times more than the value of the net profits for 2005 and 1.3 times the size of WINTERTHUR's own funds. The deal will be funded via an increase in capital to the tune of €4.1 billion and sale of the debt worth € 4.8 billion. The transaction strengthens AXA's positions in Europe (especially in Belgium and Germany) and makes it a leader in the Swiss insurance damages market and number...

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THE DAY IN POLITICS
GENERAL NEWS
ECONOMIC INTERPENETRATION