Axa IM Said to Plan Stake Sale in Dunkerque LNG Terminal

Axa SA’s asset management unit plans to sell its 15% stake in Dunkerque LNG, continental Europe’s second-largest liquefied natural gas import terminal, people familiar with the matter said.

Axa Investment Managers’ divestment in the French facility, which may attract interest from international funds and commodity traders, is part of a strategy to reduce exposure to fossil fuels, said the people, asking not to be identified because the process is confidential.

Deliberations and consultations with a financial adviser are ongoing, according to the people. A spokesperson for Axa IM, which is being bought by BNP Paribas SA, ...