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Prudential Financial Weighs Buying Stake in China’s ABC Life, Sources Say

  • US insurer is working with adviser on exploring a bid
  • Stake sale could value whole of ABC Life at up to $4 billion
Updated on

Prudential Financial Inc. is considering buying a minority stake in ABC Life Insurance Co., the insurer controlled by Chinese state-owned Agricultural Bank of China Ltd., according to people familiar with the matter.

The US insurer is working with a financial adviser as it evaluates making an offer for the stake, the people said, asking not to be identified because the matter is private. The stake sale in Beijing-based ABC Life has also drawn interest from other financial institutions, the people said.