Prudential completes demerger of wealth management business M&G

  • Mon 21 Oct 2019 09:50

    Insurance company Prudential said it had completed the demerger of wealth management business M&G.

    Shareholders had retained their shares in Prudential and also received shares in M&G.

    'The board believes the demerger will help Prudential and M&G to become more closely aligned to the interests of their customers and shareholders,' chairman Paul Manduca said.

    'Both businesses will retain their UK domicile and be able to allocate capital even more effectively as separate entities.'

    At 9:50am: (LON:PRU) Prudential PLC share price was -143.25p at 1362.75p

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