What happened? PRUDENTIAL is considering disposal of stake in Eastspring, according to BBG . DISPOSAL: BBG reports that Prudential is considering disposal of a minority stake in its Asset Management arm, Eastspring, in a deal that BBG says could value the business unit at $3bn. . STRUCTURE: BBG reports that one option under consideration would be to sell 30% and form a partnership that would help diversify into areas like private credit. Certain markets could also be excluded. . CONTEXT: We note recent reports of other asset managers considering options along these lines, for instance Allianz/Amundi and Generali/Natixis. BNPP Exane View: . OUR VIEW: Eastspring makes up c.10% of Prudential''s earnings, and a $3bn valuation would represent 11% of the Group''s Enterprise Value, so we don''t think the valuation mentioned in the article is a reason alone for a significant share price reaction. However, a structure as indicated might be beneficial if the yield on fixed income allocations could be improved, and/or the AM proposition for customers could be augmented. . REMINDER: Pru also owns a 49% stake in an Indian AM JV with ICICI. If the group is considering strategic options in the AM segment, this might also be an asset they could consider for disposal.