IFC completes acquisition of 10% stake in AXA Egypt

M&A WATCH- The International Finance Corporation (IFC) closed its acquisition of a 10%stake in AXA Egypt Investment, according to an emailed statement. AXA Group and IFC have had a long-standing global partnership to develop the sector in emerging markets and contribute to their sustainable growth and invest through co-investments or acquisitions, work on improving road safety, infrastructure development, responsible Investments, and microinsurance, the statement said. The value of the transaction was not disclosed.