Prudential Sells Latin Units for $4B
Prudential Financial has agreed to sell its Brazil and Mexico units to CNP Assurances for 4.03 billion dollars in cash. The insurer plans to use the proceeds to invest in core markets including the United States and Japan.
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PRUDENTIAL FINANCIAL INC will sell its Brazil and Mexico units to France-based CNP Assurances Group for $4.03B in cash. The divestiture marks a step in the insurer's ongoing retreat from emerging markets to simplify operations. The exit follows previous sales in Indonesia as management narrows its geographic footprint.
