Market Chatter: Prudential Financial Considering Sale of Alexforbes Stake

MT Newswires Live12-04 01:22

Prudential Financial (PRU) is mulling selling its stake in South Africa-based Alexforbes, Bloomberg reported Wednesday, citing people familiar with the matter.

The US insurer has informed both Alexforbes and African Rainbow Capital, led by billionaire Patrice Motsepe, about a potential divestment, the media outlet reported.

The possible sale is reportedly part of a shift in Prudential's corporate strategy, though no final decision has been made. Some minority shareholders of Alexforbes have not yet been formally informed of Prudential's plan, Bloomberg reported, citing one of the sources.

Prudential, Alexforbes and African Rainbow Capital did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 108.79, Change: +0.94, Percent Change: +0.87

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