AXA and Wafa express interest in acquiring Delta Insurance

Through their Egyptian subsidiaries, France's AXA and Morocco's Wafa have both made offers to acquire a majority stake in Delta Insurance, 63.39% of which is held by Egypt Kuwait Holding Company (EKH).

While AXA Investment Egypt aims to take control of at least 75% of the Egyptian insurer, Wafa Life Insurance Egypt is targeting a minimum 51% stake in Delta Insurance.

In compliance with current legislation, the two companies will shortly be submitting a binding takeover offer.