Prudential Financial to sell Brazil and Mexico units to CNP for US$4 billion
Prudential Financial will sell its Brazil and Mexico units to France's CNP Assurances Group for US$4.03 billion in cash, as the US insurer narrows its geographic footprint. The deal is expected to close in the second half of 2027.
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," chief executive Andy Sullivan said in a statement.
The transaction is expected to close in the second half of 2027, the company said.
Morgan Stanley served as financial adviser to Prudential, while Goldman Sachs advised CNP Assurances on the deal.