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Slide #33. MetLife, Inc. — BBVA's Chilean Pension Business
MetLife, Inc. (NYSE:MET)
BBVA's Chilean Pension Business
MetLife, Inc. announced today it has entered into a definitive agreement with BBVA to acquire AFP Provida S.A. ("Provida"), the largest private pension fund administrator in Chile. Under the terms of the agreement, MetLife will conduct a public cash tender offer for all of the outstanding shares of Provida, and BBVA has agreed to transfer its 64.3% stake to MetLife. Assuming all publicly-held shares are tendered, the purchase price, which MetLife will fund from its existing cash balances, would be approximately $2 billion.
MetLife is an insurance holding company. Through its subsidiaries and affiliates, Co. is a financial services company, providing insurance, annuities, employee benefits and asset management. Co. is organized into five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. In the U.S., Co. provides a variety of insurance and financial services products, including life, dental, disability, vision, accident and health, capital market investment, stable value and annuities. Outside the U.S., Co. provides life, medical, dental, credit and other accident and health insurance, as well as annuities, endowment and retirement and savings products.
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Buy (3.41 out of 4)