NU Online News Service, Sept. 21, 2:08 p.m. – Prudential Plc, London, has signed a memorandum of understanding to buy a 93.35% stake in Youngpoong Life Insurance Company, Seoul from Korea Zinc Company, Seoul, the parent of Youngpoong, according the online edition of Joong Ang Il Bo, a Korean daily.
Under the agreement, Prudential will buy the stake for $230 million, or 35 billion won, Joong Ang reports.