US insurer Prudential Financial Inc. is considering selling its stake in South African financial-services firm Alexforbes, according to people familiar with the matter.
The Newark-based company notified billionaire Patrice Motsepe’s African Rainbow Capital that it’s weighing an exit, said the people who asked not to be identified as the information isn’t public. Prudential also informed Alexforbes about its plans, they said.
Prudential first bought a stake in the Johannesburg-based firm in 2022, and owns about a third of the company that has a current market value of 10.7 billion rand ($627 million). Alexforbes shares traded 0.7% higher at ...
