Prudential Financial, Inc. (NYSE:PRU) and Leapfrog Investments Group Ltd agreed to acquire an unknown stake in Alexander Forbes Group Holdings Limited (JSE:AFH) from Mercer Africa Limited on March 18, 2022. The transaction is subject to regulatory approvals and other customary closing conditions. LeapFrog's appointment as investment manager is subject to approval by the Mauritius Financial Services Commission. Deutsche Bank acted as financial advisor, and Cliffe Dekker Hofmeyr Inc. and Witness Makhubele of ENSafrica in South Africa and Geoffrey Burgess, Benjamin Amos, Peter Schuur, John Nelson, Andrew Levine, Erich Grosz and Franklin Mitchell of Debevoise & Plimpton LLP acted as legal advisors to Prudential Financial and LeapFrog Investments on the transaction. Standard Bank acted as financial advisor, and Bowmans acted as legal advisor to Alexander Forbes on the transaction.

Prudential Financial, Inc. (NYSE:PRU) and Leapfrog Investments Group Ltd completed the acquisition of 14.8% stake in Alexander Forbes Group Holdings Limited (JSE:AFH) from Mercer Africa Limited In 2nd quarter of 2022.