Prudential sells Brazil and Mexico units to CNP for US$4 billion
Prudential Financial agreed to sell its operations in Brazil and Mexico to Grupo CNP Assurances for US$4 billion, as part of its strategy to reduce its presence in emerging markets. The proceeds will go toward strengthening its asset management business, particularly in private alternative assets, and its group insurance business, as well as investing in certain pension markets in Europe, according to CEO Andrew Sullivan. Prudential has already exited nearly 60% of the emerging markets it intends to sell; India, Ghana and China remain.
In 40 seconds
- Prudential sells its Brazil and Mexico operations to CNP Assurances for US$4 billion
- The proceeds will go to asset management, group insurance and pension plans in Europe
- Prudential has already exited nearly 60% of the emerging markets it intends to sell; India, Ghana and China remain
Read the full story at Bloomberg Línea
IASummary generated by artificial intelligence from a story by Bloomberg Línea. It may contain errors: the original source prevails.
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