The Swiss firm has finalized the sales of 100% of Winterthur Swiss Insurance Co. to AXA. The agreement was first announced on June 14.
Under the agreement, Credit Suisse Group received a cash payment of 12.3 billion Swiss francs. In addition, AXA redeemed £500 million (approximately CHF 1.1 billion) of inter-company hybrid debt outstanding between Credit Suisse Group and Winterthur.
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