Prudential Plc Sells U.S. Independent Broker-Dealer Network
August 15 2017 - 9:10PM
Dow Jones News
By Joanne Chiu
Prudential Plc. (PUK) said Wednesday that it has received all
necessary regulatory approvals for the sale of its U.S. independent
broker-dealer network to LPL Financial LLC.
The initial consideration of the deal is US$325 million and
could rise up to US$448 million subject to certain transition
criteria, the U.K.-based financial services group said. The sale is
expected to be completed by the end of the first quarter of
2018.
Write to Joanne Chiu at joanne.chiu@wsj.com
(END) Dow Jones Newswires
August 15, 2017 20:55 ET (00:55 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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