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Announced

Completed

Empower Retirement completed the acquisition of a full-service retirement business of Prudential Financial for $3.55bn.

Financials

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Transaction Value£2,603m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

Acquisition

Private

retirement business

Domestic

Friendly

Single Bidder

Majority

Full Line Insurance

Private Equity

Completed

Synopsis

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Empower Retirement, a retirement plan recordkeeping financial holding company, completed the acquisition of a full-service retirement business of Prudential Financial, a global financial services provider, for $3.55bn. “This transaction broadens our ability to serve the financial needs of working Americans, their advisors and employers. This transaction will create an even stronger service organization at Empower, expands our product offerings and the deepens the expertise of our talent pool,” Edmund F. Murphy III, Empower President and CEO.

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