Prudential Financial In Deal With LeapFrog To Buy Stake In Alexander Forbes

(RTTNews) - Prudential Financial, Inc. (PRU) said on Friday that it has joined hands with LeapFrog Investments Group, Ltd., to buy a minority stake in the South African firm Alexander Forbes Group Holdings Limited to expand its presence in Africa.

The financial terms of the proposed transactions are not known.

With the move, Prudential Financial, with LeapFrog Investments acting as the investment manager, will acquire a minority interest in Alexander Forbes from Mercer.

Pavan Dhamija, Prudential Financial's Regional President, said: "…This transaction underscores Prudential's continued focus on Africa as a strategically important growth market and our vision to be a global leader in expanding access to investing, insurance, and retirement security."