Prudential Financial To Sell Alexforbes Stake For $185 Mln

(RTTNews) - Prudential Financial, Inc. (PRU) said Friday that its indirect subsidiary, New Veld, has agreed to sell all of Prudential's shares in South African-listed Alexander Forbes Group Holdings in two separate transactions valued at approximately $185 million.

"These transactions mark further execution on our strategy, allowing us to narrow our focus on the businesses and markets where we see the strongest opportunities for long-term growth. It also positions Alexforbes for continued success under a more concentrated ownership structure," said David Legher, head of Emerging Markets at Prudential.

Alexforbes will repurchase approximately 372.8 million shares held by New Veld, while ARC AF Holdings will acquire New Veld's remaining approximately 74.1 million shares.

The transactions are expected to close in the first half of 2027, subject to Alexforbes shareholder approval, regulatory approvals and other customary closing conditions.

Prudential Financial shares closed up 0.76% at $117.93 on Thursday.