Hanwha Acquires Prudential Units
NEW YORK (
) -- 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
TheStreet Recommends
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
>>See our new stock quote page.
Follow TheStreet.com on
and become a fan on
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
