Prudential Financial to sell Brazil, Mexico units for $4 billion

Prudential Financial said on ​Tuesday it would ‌sell its Brazil and Mexico units to French ​insurance group CNP ​Assurances Group for US$4.03 billion (HK$31.6 billion) ⁠in cash as ​the US insurer continues ​to simplify its business.

"We remain focused on narrowing our ​geographic footprint and ​building a simpler, more focused ‌Prudential," ⁠CEO Andy Sullivan said.

The transaction is expected to close in ​the ​second ⁠half of 2027. 

Morgan Stanley served as financial adviser to Prudential, while ‌Goldman Sachs advised CNP Assurances.

Reuters

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