Prudential sells Brazil, Mexico units to CNP for $4 billion as it narrows its focus
PRU•Prudential Financial agreed to sell its Brazil and Mexico units to CNP Assurances Group for $4.03 billion in cash. The transaction is expected to close in the second half of 2027.
1. Sale advances retreat
Prudential Financial said it would sell its Brazil and Mexico units to CNP Assurances Group for $4.03 billion in cash as it simplifies its business. The sale follows divestitures in Indonesia, South Africa and Kenya.
2. Narrowing its footprint
In August, CEO Andy Sullivan said Prudential planned to reduce the geographic footprint of its retirement and insurance businesses from more than a dozen countries to about half that number. “We remain focused on narrowing our geographic footprint and building a simpler, more focused Prudential,” Sullivan said.
3. Use of proceeds
Prudential plans to invest the proceeds in growth opportunities in retirement, asset management and select protection businesses in the United States, Japan and select European markets. The transaction is expected to close in the second half of 2027.
