Bloomberg News

Prudential Financial to Sell Stake in Mexican Fund Manager

October 20, 2011

Oct. 20 (Bloomberg) -- Prudential Financial Inc., the second-biggest U.S. life insurer, agreed to sell its stake in a Mexican private pension-fund manager to Grupo Financiero Banorte SAB.

Proceeds of the sale of Afore XXI SA will be about $200 million, Newark, New Jersey-based Prudential said today in a statement distributed by Business Wire.

--Editor: Dan Reichl

To contact the reporter on this story: Andrew Frye in New York at afrye@bloomberg.net.

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net.


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