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Taishin to buy Prudential's Taiwan unit for $187 million

TAIPEI (Reuters) - Taiwan's Taishin Financial Holding Co Ltd 2887.TW has agreed to buy Prudential Financial Inc's PRU.N Taiwan unit for T$5.5 billion ($187 million), Taishin said in a statement on Tuesday.

The U.S. insurer is exiting some Asian markets and in April sold South Korean unit to KB Financial Group Inc 105560.KS for $1.89 billion.

Taishin said its deal will require regulatory approval.

Prudential’s Taiwan unit held assets worth T$165.55 billion in 2018 and has operated in the market for nearly 30 years.

Reporting by Ben Blanchard and Emily Chan; editing by Jason Neely

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