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TheStreet Open House

Hanwha Acquires Prudential Units

Stocks in this article: PRU

NEW YORK ( TheStreet) -- Hanwha Securities has agreed to acquire two South Korean units of Prudential Financial (PRU - Get Report) according to Dow Jones newswires.

The reported cost of the acquisition will be about $433.3 million.

Reuters reported that Hanwha Securities has signed a memorandum of understanding to purchase Prudential's units. Details about the terms of the contract were not released.

Macquarie was also reportedly interested in buying the South Korean units, while KB Financial (KB - Get Report) pulled out of the bid, Dow Jones said.

-- Reported by Andrea Tse in New York

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