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Pru Closes Sale Of Wachovia Stake

By staff Writer

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Prudential Financial Inc. has reached agreement with Wells Fargo & Company to sell its interest in Wachovia Securities to the bank.

Wells Fargo, San Francisco, which took over Wachovia Corp. last year, has agreed to buy Prudential’s interest in their joint venture, a retail brokerage, for $4.5 billion in cash. The purchase includes Wells Fargo Advisors L.L.C.

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