Prudential Financial to sell Brazil and Mexico units to CNP Assurances for $4.025B cash

PRUDENTIAL FINANCIAL INC

• Aggregate purchase price of approximately $4.025 billion in cash, subject to closing adjustments; deal expected to close in H2 2027 pending regulatory approvals.
• Sells 100% of equity in Prudential do Brasil Seguros S.A. and Prudential Seguros Mexico, S.A. de C.V. to CNP Seguradora and CNP Assurances Holding.
• Follows sales of stakes in PT PFI Mega Life (Indonesia), Alexforbes (South Africa) and ICEA LION (Kenya), which closed October 13, as Prudential exits emerging markets.
• Proceeds to fund capital priorities and growth in retirement, asset management and select protection businesses in the U.S., Japan and select European markets.
• Morgan Stanley advised Prudential; Goldman Sachs advised CNP Assurances. Additional deal terms were not disclosed.