Britain’s Prudential (PRU.L) said it would buy AIG’s (AIG.N) Asian life insurance arm for US$35.5 billion ($50 billion), making it the undisputed foreign leader in one of the world’s fastest-growing financial services markets.
The acquisition of AIA will be funded by a rights issue of US$21 billion including costs and fees, the biggest ever acquisition-related cash call, and by a US$5 billion debt issue, Prudential said on Monday, confirming an earlier Reuters report.
