Prudential Financial and LeapFrog Investments announce intention to acquire a strategic minority interest in Alexander Forbes Group Holdings Limited
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Friday, March 18, 2022
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Prudential Financial, Inc. (Prudential Financial) (NYSE: PRU), in partnership with LeapFrog Investments Group, Ltd. (LeapFrog Investments), announced its intention to acquire a strategic minority interest in Alexander Forbes Group Holdings Limited (JSE: AFH), a leading provider of financial advice, retirement, investment, and holistic wealth management services in South Africa.
Key Points:
- Prudential Financial, Inc. (Prudential Financial) (NYSE: PRU), in partnership with LeapFrog Investments Group, Ltd. (LeapFrog Investments), announced its intention to acquire a strategic minority interest in Alexander Forbes Group Holdings Limited (JSE: AFH), a leading provider of financial advice, retirement, investment, and holistic wealth management services in South Africa.
- The transaction builds upon Prudential Financials partnership with LeapFrog Investments to access high-growth financial services markets in Africa and deliver essential financial tools to emerging consumers.
- Since 2016, Prudential Financial and LeapFrog Investments have invested in high-quality market leaders across the African continent, including Enterprise Group in Ghana and ICEA LION in Kenya.
- Under the terms of the transaction, Prudential Financial, with LeapFrog Investments acting as the investment manager, will acquire a minority interest in Alexander Forbes from Mercer.