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Worldline said the deal would result in SIX Payment Services ending up with a 27 per cent stake in the French company.
Sanofi has been reshaping its business in recent months, spending over $16 billion on M&A and also selling off some assets.
The deal, AXA said, would create a world leader in property and casualty insurance.
PSA said the deal with Naza Corp formed part of the company’s “Push to Pass” strategic plan to boost sales.
The Chinese group will invest around 100 million euros ($122.77 million) in the business.
The sale of two-thirds of Danone’s current Yakult holding could fetch about 1.5 billion euros ($1.86 billion).
Private banking has often been the stage for M&A activity.
Private-equity backed French clothing retailer Vivarte, which is aiming to restructure more than 1.3 billion euros ($1.5 billion)of debt, has agreed to offload its Kookai brand to Australian company Magi as part of Vivarte’s ongoing sell-off programme. The sale of Kookai, announced by Vivarte on Tuesday, comes two months after it… Read more »