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Hanwha Acquires Prudential Units

Hanwha Securities has agreed to acquire two South Korean units of Prudential Financial.
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NEW YORK (

TheStreet

) -- Hanwha Securities has agreed to acquire two South Korean units of

Prudential Financial

(PRU) - Get Free 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 Free Report

pulled out of the bid,

Dow Jones

said.

-- Reported by Andrea Tse in New York

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