Prudential Financial agreed to sell its entire stake in South African firm Alexander Forbes Group Holdings for approximately $185 million. The sale will be conducted through its indirect subsidiary, New Veld, LLC. Alexforbes will repurchase a majority of the shares, while ARC AF Holdings acquires the remainder.
The transaction is a central component of Prudential's strategy to exit certain emerging markets. The company plans to reallocate capital and management resources toward markets with the strongest long-term growth opportunities.
The deal is expected to close in the first half of 2027, pending regulatory and shareholder approvals. This divestment supports Prudential’s broader financial goal to convert 65% of net income to free cash flow through 2027.