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July 05, 2011 at 08:00 PM
Prudential Financial Inc. has completed the sale of a global commodities unit to Jeffries Group Inc.
Prudential, Newark, N.J. (NYSE:PRU), announced the $419.5 million deal with Jeffries, New York (NYSE:JEF), in April.
The deal included Prudential’s FCM, Prudential Bache Commodities L.L.C., Prudential Bache Securities L.L.C. and Bache units.
Jeffries is an investment bank and securities firm.
The deal price was equal to the acquired operations’ book value as of the date of closing, Prudential says.
