Prudential completed the spin-off of M&G.

Prudential, an Asia-led portfolio of businesses focused on structural growth markets, completed the spin-off of M&G, its savings and investments business, in a £5.6bn deal. "This has been a complex transaction and I would like to thank everyone for their hard work. The Board believes the demerger will help Prudential and M&G to become more closely aligned to the interests of their customers and shareholders. Both businesses will retain their UK domicile and be able to allocate capital even more effectively as separate entities. We wish M&G every success in its new life as an independent business," Paul Manduca, Prudential Chairman.