Prudential Financial Exits Investment in South Africa's Alexforbes

MT newswire2026/09/18 10:41

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06:41 AM EDT, 09/18/2026 (MT Newswires) -- Prudential Financial's (PRU) New Veld unit has agreed to exit its 34.39% shareholding in Alexforbes via two separate transactions, according to a Friday filing by the South African retirement fund operator. New Veld agreed to sell 372.8 million shares, representing a 28.69% stake in the company, back to Alexforbes at 6.75 South African rand ($0.42) apiece, a 3.4% discount to Alexforbes' 30-business-day volume-weighted average price, the filing showed. The transaction is subject to approval from Alexforbes shareholders and regulators, the filing said. The unit also reached a separate agreement to sell its remaining 74.1 million shares, or 5.7% stake, in Alexforbes to ARC AF Holdings, according to the filing. The purchase price was not disclosed.

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