Prudential Sheds Brazil, Mexico Units to CNP for $4 Billion as It Narrows Focus

3-line summary

• Prudential Financial agreed to sell its Brazil and Mexico units to French insurer CNP Assurances for $4.03 billion in cash, with the deal expected to close in the second half of 2027; a senior executive said the company "remains focused on narrowing our geographic footprint and building a simpler, more focused Prudential."
• Prudential plans to redeploy the proceeds into growth opportunities in retirement, asset management, and select protection businesses in the US, Japan, and parts of Europe; the move follows the company's earlier exits from Indonesia, South Africa, and Kenya, and comes after its CEO said in August that Prudential would cut the geographic footprint of its retirement and insurance businesses from more than a dozen countries to roughly half that number.
• For CNP, the acquisition marks a major step in diversifying into Latin America; Morgan Stanley advised Prudential and Goldman Sachs advised CNP on the transaction.

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