Prudential Sells Unit to South Korea's Shinhan Financial for $151 Million
23 Janeiro 2018 - 5:10AM
Dow Jones News
By Adria Calatayud
Prudential PLC (PRU.LN) said Tuesday that it has agreed to sell
its Vietnamese consumer-finance unit, Prudential Vietnam Finance
Company Ltd., to a subsidiary of South Korea's Shinhan Financial
Group Ltd. (055550.SE) for $151 million.
Prudential and Shinhan's subsidiary--Shinhan Card Ltd.--have
also agreed a new long-term bancassurance partnership in Vietnam
and Indondesia, the U.K. financial-services group said.
Prudential Vietnam Financial Company was launched in 2006 and is
the fourth-largest consumer finance company by outstanding loan
balance in Vietnam, Prudential said.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
January 23, 2018 01:55 ET (06:55 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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