Resolution acquires Axa Life for £2.75bn

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Buyout vehicle Resolution has bought Axa Life for 2.75bn in a deal part-funded by a rights issue of approximately £2.05bn.

The deal comprises £2.25bn in cash and up to £500m in deferred consideration notes to be issued by Axa, with investors agreeing to sub-underwrite 52% of the cash call. It will be financed by a r...

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