Potential combination of Prud

RNS Number : 8245H

Prudential PLC

01 March 2010

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, NEW ZEALAND, JAPAN, INDIA OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE.

For Immediate Release Monday 1 March 2010

Potential combination of Prudential and AIA

The Board of Prudential plc ("Prudential" or the "Company") notes the recent press speculation regarding a possible transaction involving AIA Group Limited ("AIA"). Prudential confirms that it is in advanced discussions with AIG Inc. regarding a possible combination of its business with that of AIA.

As part of Prudential's continued focus on its Asian growth strategy, the business continually reviews opportunities for expansion. AIA represents a unique and strategically compelling opportunity for Prudential and AIA to create the leading insurer in South East Asia.

There can be no certainty that these discussions will lead to any agreement or as to the terms or timing of any such agreement. The Company confirms that it is not currently contemplating the implementation of such a combination through a structure that would be classified as a reverse takeover under the Listing Rules of the UK Listing Authority and intends that any combination, if agreed, would be effected through a new holding company.

The Company has requested the temporary suspension of trading in its Ordinary Shares, pending the release of a further announcement in due course.

Enquiries:

Media		Investors/Analysts
Stephen Whitehead	[phone]	Matt Lilley	[phone]

 

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