Prudential Financial to Sell Brazil, Mexico Units for $4.025 Billion
Photo: TokenPost
Prudential Financial announced Oct. 20 that it had signed agreements to sell its insurance businesses in Brazil and Mexico to CNP Assurances for $4.025 billion in cash, extending its planned withdrawal from emerging markets. The proposed deal covers 100% of both businesses. CNP Seguradora would acquire Prudential of Brazil, while CNP Assurances Holding would buy Prudential of Mexico. The cash price is subject to adjustments at closing. Prudential of Brazil has 6.9 million policyholders. Its distribution network includes 2,500 franchised Life Planners as well as other partnerships.
Source: TokenPost
