Prudential Plc Sells U.S. Independent Broker-Dealer Network

By Joanne Chiu Features Dow Jones Newswires

Prudential Plc. (PUK) said Wednesday that it has received all necessary regulatory approvals for the sale of its U.S. independent broker-dealer network to LPL Financial LLC.

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The initial consideration of the deal is US$325 million and could rise up to US$448 million subject to certain transition criteria, the U.K.-based financial services group said. The sale is expected to be completed by the end of the first quarter of 2018.

Write to Joanne Chiu at

(END) Dow Jones Newswires

August 15, 2017 20:55 ET (00:55 GMT)