Hanwha Acquires Prudential Units
NEW YORK (
) -- 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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