LONDON (dpa-AFX) - Prudential plc (PUK), an insurance and asset management company, Thursday announced that its unit Prudential Corporation Holdings Limited or PCHL has agreed to purchase an additional stake of 19 percent in Sri Han Suria Sdn. Bhd. or SHS the holding company that owns Prudential Assurance Malaysia Berhad for nearly $375 million from Detik Ria Sdn. Bhd. or DR.
Once the transaction concludes, Prudential plc will have 70 percent interest in SHS.
Further, PHCL has agreed to cooperate with DR regarding its divestment of the remaining 30 percent shareholding in SHS to one or more agreed third parties, should it decide to sell.
In pre-market activity, PUK shares were trading at $31.84, up 1.40% on the New York Stock Exchange.
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