AXA-XL fined for late filing of merger notice

By Anna Leah E. Gonzales

Sep 05, 2018 12:21 am

The Philippine Competition Commission (PCC) slapped a fine of P123,861 on AXA S.A. of XL Group Ltd. for the late filing of their merger notification to the antitrust commission, although the panel has cleared the merger.

AXA, through its subsidiary Camelot Holdings Ltd., is set to merge with XL Group, with XL Group surviving the merger as a wholly-owned subsidiary of AXA.

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