Oct 20 (Reuters) – Prudential Financial said on Tuesday it would sell its Brazil and Mexico units to French insurance group CNP Assurances Group for $4.03 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,” CEO Andy Sullivan said.
The transaction is expected to close in the second half of 2027.
Morgan Stanley served as financial adviser to Prudential, while Goldman Sachs advised CNP Assurances.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar and Vijay Kishore)
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