Offer accepted by over 90% of SBJ shareholders

AXA has announced that its offer to purchase SBJ Group has now been completed following acceptance by over 90% of the shareholders of the group.

The offer is now unconditional in all respects but will remain open for additional acceptances until further notice.

The deal has also received FSA approval, allowing Axa to take formal control of the group.

Nicolas Moreau, AXA chief executive, said: "I am delighted that our acquisition of SBJ Group has been successful. 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 and represents an exciting opportunity for SBJ and AXA."