Prudential plc (PUK) Announced Settlement of its Legal Dispute Detik Ria

Prudential plc (NYSE:PUK) is one of the Best Undervalued UK Stocks to Buy According to Analysts. On July 31, Prudential plc (NYSE:PUK) announced the settlement of its legal dispute with Detik Ria Sdn Bhd, the 49% shareholder in Sri Han Suria Sdn Bhd, the holding company of Prudential Assurance Malaysia Berhad.

Earlier, Detik Ria had claimed dividends of about USD 833 million plus interest. As per the settlement, SHS will pay Detik Ria USD 83 million from existing resources as a dividend, and the company has also waived USD 33 million owed by Detik Ria to its subsidiary, based on a previous court decision. In return, all legal proceedings will be dropped, and both parties have agreed not to make future claims related to past issues. Management noted that Prudential plc (NYSE:PUK) has decided to slightly increase its IFRS shareholder equity, whereas Detik Ria’s 49% ownership in PAMB will continue to be reflected as a non-controlling interest in the company’s financial statements.

Prudential plc (NYSE:PUK) is a financial services company providing life, health insurance, and asset management solutions.

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Disclosure: None. This article is originally published at Insider Monkey.