E.Sun Financial Holding Co will acquire a 91.2% stake in PGIM Securities Investment Trust Enterprise, Prudential Financial Inc’s Taiwan subsidiary, for NTD2.76bn (USD83.5m) to expand its wealth management business. The acquisition, approved by E.Sun’s board, follows a memorandum of understanding signed in November. PGIM manages NTD160.8bn in assets, focusing on mutual fund fundraising and foreign fund distribution. E.Sun Financial, which exited the investment trust sector in 2008, aims to rebuild its presence and integrate its banking and securities operations. Prudential’s exit follows its 2020 sale of insurance assets to Taishin Financial Holding. E.Sun will fund the deal through cash reserves or short-term commercial paper and plans to seek regulatory approval soon. The acquisition is not expected to impact dividend payouts.