Taiwan approves Taishin's purchase of Prudential's Taiwan unit

TS Financial Holding Co

01/06/2021 09:14

TAIPEI, June 1 (Reuters) - Taiwan said on Tuesday it had
approved Taishin Financial Holding Co Ltd's  2887.TW  purchase
of Prudential Financial Inc's  PRU.N  Taiwan unit, which it
agreed to buy last year for T$5.5 billion ($199.41 million).
    Taiwan's Financial Supervisory Commission said it had
granted the approval on Monday.  
    The U.S. insurer is exiting some Asian markets and in April
last year sold its South Korean unit to KB Financial Group Inc
 105560.KS  for $1.89 billion. 
 ($1 = T$27.5810)

 (Reporting by Emily Chan; Writing by Ben Blanchard; Editing by
Nick Macfie)
 ((ben.blanchard@thomsonreuters.com;))