France's biggest insurance company AXA SA has announced it will spend 156 million euros to squeeze out minority shareholders and gain control of its German subsidiaries. Under the proposal, the parent company will buy out the remaining 3.2 percent of its German subsidiaries Axa Konzern AG and a 0.44 percent stake in Koelnische Verwaltungs- Aktiengesellschaft fuer Versicherungswere AG for 144 million euros. Axa said it will also spend an additional 12 million euros to buy out minority shareholders in some smaller German subsidiaries. Axa claimed the buyout will slightly add to its earnings per share.