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Axa Equitable Holdings moves AllianceBernstein interests to new subsidiary

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Axa Equitable Holdings moves AllianceBernstein interests to new subsidiary

Axa Equitable Holdings Inc. transferred the interests in AllianceBernstein Holding LP held directly or indirectly by Axa Equitable Life Insurance Co. to a newly created wholly owned subsidiary.

The interests that had been transferred include units of the limited partnership interest in AllianceBernstein LP, units representing assignments of beneficial ownership of limited partnership interests in AllianceBernstein Holding and shares of AllianceBernstein Corp.

The transactions were undertaken to simplify the Axa Equitable Holdings corporate structure and streamline the company's cash flow and capital management.