Prudential Financial agrees to sell Alexforbes stake for USD 185 million
PRU•Prudential Financial to sell Alexforbes stake
Prudential Financial agreed to sell its entire stake in South Africa’s Alexforbes via two transactions valued at about USD 185 million.
- Alexforbes will repurchase 372,800,000 shares held by Prudential’s indirect subsidiary New Veld.
- ARC AF Holdings will buy New Veld’s remaining 74,100,000 shares.
- Closing is expected in the first half of 2027, subject to shareholder approval and regulatory clearances.
- The deal advances Prudential’s strategy to exit emerging markets and narrow its geographic footprint.
