AXA to buy BRE Ubezpieczenia – paper

French insurance giant AXA is close to acquiring BRE Ubezpieczenia, the insurance unit of lender mBank, according to sources quoted by Puls Biznesu. The acquisition also involves bancassurance cooperation with the seller. “AXA won the auction for BRE Ubezpieczenia. It is offering PLN 500 million for the company plus bonuses for results posted in the future together with mBank,” one of the sources said. Another claimed that the deal value may be PLN 600 million. All major sector players, apart from PZU, were initially interested in buying the firm. However, only AXA, Generali and Zurich made it to the last stage, the daily wrote.