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Hanwha Acquires Prudential Units

Hanwha Securities has agreed to acquire two South Korean units of Prudential Financial.
Author:

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

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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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