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Prudential Financial, Bank Simpanan Nasional to Acquire Uni.Asia Life Assurance Berhad

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Prudential Financial, Inc. (NYSE: PRU), which does business as Pramerica in selected
countries outside the U.S., and Bank Simpanan Nasional (“BSN”) today
announced they have reached agreement for Prudential's U.S.…
Prudential Financial, Inc., which does business as Pramerica in selected
countries outside the U.S., and Bank Simpanan Nasional (“BSN”) today
announced they have reached agreement for Prudential's U.S. insurance
company, The Prudential Insurance Company of America (“PICA”), and BSN
to purchase 100 percent of Uni.Asia Life Assurance Berhad's (“UAL”)
issued and paid-up ordinary share capital (“UAL Shares”) from Uni.Asia
Capital Sdn Bhd (“UAC”). UAC is a joint venture company 51 percent and
49 percent owned by DRB-HICOM Berhad's wholly owned subsidiary Gadek
(Malaysia) Berhad and United Overseas Bank (Malaysia) Bhd, respectively.
PICA and BSN have submitted a request for approval of the proposed
transaction to Bank Negara Malaysia, the life insurance regulator in
Malaysia. Under the proposed transaction

See full press release

Posted-In: News Guidance Contracts Management Global

 

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