Prudential Financial said it has agreed to sell Prudential of Brazil and Prudential of Mexico to CNP Assurances for an aggregate cash price of $4.025 billion, marking another step in its exit from emerging markets.
The deal follows Prudential’s previously announced sales of interests in joint ventures in Indonesia, South Africa and Kenya, which closed on October 13. Together, those transactions show the company has been steadily shrinking its emerging-markets footprint.
Prudential said it plans to use the cash proceeds to support capital allocation priorities and fund higher-priority growth areas in retirement, asset management and select protection businesses in the U.S., Japan and selected European markets.
The transaction is expected to close in the second half of 2027, subject to regulatory approvals and other customary closing conditions. No additional deal terms were disclosed.
For CNP Assurances, the acquisition expands its Latin American presence, giving it a stronger position in Brazil and a new entry into Mexico. The buyer said it sees value in the businesses’ life planner network, distribution capabilities and customer relationships. Following these announcements, the company's shares moved -1.93%, and are now trading at a price of $113.67. For the full picture, make sure to review PRUDENTIAL FINANCIAL INC's 8-K report.
