Prudential Financial (PRU) is evaluating selling its stake in South African financial-services firm Alexforbes.
Prudential (PRU) notified African Rainbow Capital and Alexforbes that it’s considering selling its stake in Alexforbes, according to a Bloomberg report on Wednesday, which cited people familiar with the matter.
US insurer Prudential first acquired a stake in the Johannesburg-based company in 2022, and owns about a third of the firm that has a current market value of 10.7 billion rand ($627 million).
“We regularly evaluate strategic opportunities to ensure they are aligned with our long-term strategy,” Prudential told Bloomberg in an emailed statement. “It is our policy not to comment on market rumors or speculation.”