Prudential Financial agrees to sell its Alexforbes holding

Prudential Financial ($PRU) agreed to dispose of its entire stake in South African financial-services company Alexforbes for approximately $185 million. The shares are held through its New Veld subsidiary. Alexforbes will repurchase about 372.8 million shares, while ARC AF Holdings will acquire a further 74.1 million shares under the proposed arrangements.

The sale is expected to close in the first half of 2027, subject to shareholder and regulatory approvals. It advances Prudential Financial’s previously announced withdrawal from selected emerging-market investments, rather than introducing that strategy for the first time. The proceeds are a transaction estimate, not cash already received. The seller is the US-listed Prudential Financial, which is separate from London-listed Prudential plc.

Sources:

• Prudential Financial — disposal agreement, Business Wire