Macquarie kicks tyres in South Korea
Macquarie Group made the list of bidders short-listed to buy the South Korean securities and asset management business of US insurer Prudential, Reuters reported. The US insurer aims to select a buyer for the businesses by next month.The investment bank has pursued a series of takeovers in northern hemisphere markets over the last year or so, though the bank is linked to a lot more targets than it ends up being a serious bidder for.Reuters reported that Prudential is likely to sell its two South Korean businesses for less than US$500 million.