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.
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.
Continue Reading Below
Write to Joanne Chiu at email@example.com
(END) Dow Jones Newswires
August 15, 2017 20:55 ET (00:55 GMT)