Acquired by
AXA ASIA PACIFIC HOLDINGS (Australia)
About IPAC
Ipac is a Sydney based financial advice firm with a new distinctive business model , an integrated multi-manager platform with 4.7 billion funds under administration.
About AXA Asia Pacific Holdings (Australia)
AAPH was a 51% owned subsidiary of the AXA Group listed on the Australian stock exchange and owned operations in Australia (AXA Australia) and in various Asian countries. AXA Australia was one of the largest life insurance and pension group in Australia with 46 billion funds under management and with a network of around 1200 financial advisers.
The Deal
AAPH bought 100% of Ipac in August 2002 for an initial amount of 205 million and with an earn-out mechanism based on future financial performance. The Ipac acquisition was extremely transformative for AXA Australia and was critical for the successful turn-around of AXA Australia.
