Prudential Financial announced an agreement today to sell its Brazilian and Mexican life insurance subsidiaries to France’s CNP Assurances for $4.025 billion in cash. The divestiture marks a full exit from Latin America, following Prudential’s October 13 liquidation of joint-venture stakes across Indonesia, South Africa, and Kenya. Proceeds are earmarked for share buybacks and U.S. asset management acquisitions as the insurer winds down its emerging-markets exposure.
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