MetLife to acquire Chilean pension business Provida
February 5, 2013 by Michael K. Stanley
MetLife agreed to purchase Chile’s largest private pension fund, AFP Provida S.A. (Provida) for $2 billion.
The deal will be funded by a public cash tender offer for the outstanding shares of Provida and Spanish lender Banco Bilbao Vizcaya Argentia will transfer 64.3 percent of its stake to MetLife.
Provida had $45.3 billion in assets under management as of September and 1.8 million contributors. Click here to read…
Originally Posted at LifeHealthPro on February 1, 2013 by Michael K. Stanley.
Categories: Industry Articles
