AXA: Status Update on NAB Proposal
UPDATE ON STATUS OF NAB PROPOSAL AXA
Asia Pacific Holdings Limited (AXA APH), AXA SA and National Australia Bank Limited (NAB) have each agreed to extend the period for NAB to satisfy the concerns raised by the Australian Competition and Consumer Commission (ACCC) until the end of the day on 31 August 2010.
On 19 April the ACCC announced that it would oppose the proposal of NAB to purchase the Australian and New Zealand Businesses of AXA APH through acquiring all of AXA APH and divesting the Asian businesses to AXA SA (Proposal). Approval from the ACCC is one of the conditions for the Proposal to proceed. NAB continues to pursue its options in relation to the ACCC’s objections to the Proposal. AXA APH, AXA SA and NAB have agreed for the payment of an interim dividend to AXA APH shareholders of up to 9.25 cents per share if determined by the directors of AXA APH.
The parties have also extended the end date for shareholder and court approval for the Proposal from 31 October 2010 to 31 January 2011.
Further information For Institutional Investors Melissa Heyhoe Group Manager – Investor Relations and Performance Reporting Ph: +61-(0)3 8688 3744 M: +61-(0)421 333 582 For Retail Investors Computershare Investor Services Ph: 1300 157 263 or +61-(0)3 9415 4689 For Media Francine McMullen Group Manager – Strategic Communications Ph: +61-(0)3 8688 4985 M: +61-(0)412 223 485.
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