“Prudential Plc (PRU), the U.K.’s biggest insurer by market value, will buy the life insurance business of Thanachart Bank Pcl, which is part-owned by Canada’s Bank of Nova Scotia (BNS), for as much as 368 million pounds ($590 million).
Prudential will pay Bangkok-based Thanachart 358 million pounds in cash when the transaction is completed and a further 10 million pounds 12 months later, the London-based insurer said in a statement through the Singapore stock exchange. The transaction is subject to regulatory approval and is expected to close in the first quarter of 2013, the company said.”
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