Prudential Unit Pays £368M For Thai Bank's Insurance Arm

Law360, New York (November 5, 2012, 6:16 PM EST) -- A Prudential PLC unit plans to scoop up the insurance affiliate of Thanachart Bank Public Co. Ltd. for £368 million ($587.7 million) as part of a deal that will set up a 15-year joint venture with the Thai bank, the companies announced Monday.

Per the deal, Prudential Life Assurance (Thailand) Public Co. will buy up the bank's insurance affiliate, Thanachart Life Assurance Co. Ltd., and the two companies will also collaborate on developing the bancassurance business in Thailand, according to the companies. Prudential Thailand is paying...
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