An offer from AXA for adviser firm SBJ Group has been completed after shareholders and the FSA gave the deal the green light.
More than 90% of SBJ shareholders agreed to the proposal and AXA has now taken formal control of the Group. Meanwhile, a merger deal between IFA firms Sumus and Lighthouse Group has been approved by the FSA but is still awaiting the thumbs up from shareholders. Members of the SBJ board last week unanimously recommended the AXA offer to purchase 100% of its shares. Nicolas Moreau, chief executive of AXA UK, says: “This marks a significant step in our strategy to build a leading advisory services and broking business in the UK. “The addition of SBJ strengthens our position in the market ...
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