SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of July, 2004
PRUDENTIAL PUBLIC LIMITED COMPANY
(Translation of registrant's name into English)
LAURENCE POUNTNEY HILL,
LONDON, EC4R 0HH, ENGLAND
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82-
Enclosures: Statement re. Egg France
Embargo: 07:01, 13 July 2004
Statement Regarding Egg France
Prudential plc notes and supports Egg's announcement today that it is taking the
necessary steps to withdraw from the French market.
Prudential remains in discussions regarding a possible transaction with respect
to its approximately 79 per cent shareholding in Egg. A further announcement
with respect to the conclusion of this transaction will be made, as appropriate,
in due course.
- ENDS -
Enquiries to:
Media Investors/Analysts
Geraldine Davies Tel: 020 7548 3911 Rebecca Burrows Tel: 020 7548 3537
Mob: 07718 637 264
Clare Staley Tel: 020 7548 3719 Marina Lee-Steere Tel: 020 7548 3511
Notes to Editors:
On 22 October 2003 Egg announced that the execution of its French business plan
would take longer and require a greater level of investment than Egg was
prepared to undertake on a standalone basis. At that time, Egg considered
forming an alliance with a strategic partner and, to that end, entered into
negotiations, which might have led to a joint venture. These conversations led
to other options being presented by various parties and as a result, Prudential
announced on 14 January 2004 that it was in preliminary discussions regarding a
possible transaction with respect to its 79 per cent shareholding in Egg. On 26
January Prudential announced that while discussions were continuing, it had
received unsolicited indications of interest from a number of parties, which may
or may not have led to a transaction.
As stated in its separate announcement, Egg expects the cost of closing Egg
France to be approximately EUR170 million (GBP113 million).
Forward-Looking Statements
This statement may contain certain "forward-looking statements" with respect to
certain of Prudential's plans and its current goals and expectations relating to
its future financial condition, performance, results, strategy and objectives.
Statements containing the words "believes", "intends", "expects", "plans",
"seeks" and "anticipates", and words of similar meaning, are forward-looking. By
their nature, all forward-looking statements involve risk and uncertainty
because they relate to future events and circumstances which are beyond
Prudential's control including among other things, UK domestic and global
economic and business conditions, market related risks such as fluctuations in
interest rates and exchange rates, and the performance of financial markets
generally; the policies and actions of regulatory authorities, the impact of
competition, inflation, and deflation; experience in particular with regard to
mortality and morbidity trends, lapse rates and policy renewal rates; the
timing, impact and other uncertainties of future acquisitions or combinations
within relevant industries; and the impact of changes in capital, solvency or
accounting standards, and tax and other legislation and regulations in the
jurisdictions in which Prudential and its affiliates operate. This may for
example result in changes to assumptions used for determining results of
operations or re-estimations of reserves for future policy benefits. As a
result, Prudential's actual future financial condition, performance and results
may differ materially from the plans, goals, and expectations set forth in
Prudential's forward-looking statements. Prudential undertakes no obligation to
update the forward-looking statements contained in this statement or any other
forward-looking statements it may make.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date 13 July 2004
PRUDENTIAL PUBLIC LIMITED COMPANY
By: /s/ Clare Staley,
Group Media Relations Manager