Prudential to spin off M&G business

The two businesses will have their own distinct investment prospects, the firm said today, with M&G Prudential lined up to be "an independent, capital-efficient UK and Europe savings and investment provider" and Prudential aiming to be "a leading international insurance group focused on high-growth opportunities in Asia, the US and Africa".   Both companies will be headquartered and listed on the London Stock Exchange.   When the demerger completes - subject to shareholder and regulatory approval - shareholders will have holdings in both Prudential and M&G Prudential. The Prudential...