NEW YORK ( TheStreet) -- Hanwha Securities has agreed to acquire two South Korean units of Prudential Financial ( PRU) 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) 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 Twitter and become a fan on Facebook.

Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

More from Stocks

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Finding Stocks Right for You: Cramer's 'Mad Money' Recap (Friday 8/25/18)

Finding Stocks Right for You: Cramer's 'Mad Money' Recap (Friday 8/25/18)

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain