Macquarie on Short-List for Prudential’s South Korean Units

SEOUL (Reuters) – Macquarie (MQG.AX) and South Korea’s Hanwha Securities (003530.KS) are among the shortlisted bidders for Prudential Financial’s (PRU.N) two South Korean units, expected to fetch less than $500 million, two sources told Reuters on Thursday.

Hanwha confirmed that it was one of the shortlisted bidders.

Private equity funds CVC and MBK Partners and South Korea’s KB Financial Group (105560.KS) had also been shortlisted, but it was unclear whether both funds remained in the auction, said a source familiar with the process.

Prudential ideally wants to sell its South Korean securities and asset management businesses together, the source said, declining to be identified as the process was confidential.

Prudential, Macquarie and KB Financial declined to comment. Deutsche Bank (DBKGn.DE), the adviser on the sale, and MBK were not immediately available for comment.

(Reporting by Kim Yeon-hee and Sonali Paul; Editing by Jonathan Hopfner)