Lex

Lex: Prudential / AIA

Prudential, the UK's largest life assurer, has agreed a transformative deal to buy the Asian operations of AIG for $35.5bn in cash and shares. The acquisition will be made through the creation of a new company to be called New Prudential which will be headquartered in the UK and listed in London. A secondary listing will be sought for the new company in New York. Richard Stovin-Bradford analyses the deal.