Prudential on Wednesday said it had decided to walk away from an agreement to buy AIG's Asian business after the board of the US insurer voted against cutting the purchase price from $35.5bn.
Prudential said in its statement that terminating the agreement with AIG would cost it £152.6m ($225m) in break-up fees. Advisory, underwriting and other fees related to the planned transaction would add another £297.4m.
The British insurer said its strategy to focus more on Asia remained unchanged.
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