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Report: Prudential Plc begins process of selling Vietnamese consumer finance biz

Prudential Plc has begun the process of selling Vietnamese consumer finance business Prudential Vietnam Finance Co., Reuters reported Oct. 4, citing "people familiar with the matter."

The sources said the sale process is in its initial stages and is in line with plans to focus on the core insurance business in Vietnam. The unit, which offers mortgages and personal loans, has roughly 300,000 customers and could fetch a sale price of $150 million, according to the report.

An adviser has been appointed, according to the sources, who added that private equity firms and financial services companies are among those interested.