Stephen Simpson, CFA
James Stefurak, CFA
Thu, Feb. 25, 8:16 AM
- MetLife (NYSE:MET), of course, has announced its plan to exit a large part of its U.S. retail segment, According to a headline on Marketwatch, the company has confirmed it's in discussions with MassMutual Financial over a deal for its U.S. advisor force - MetLife Premier Client Group.
- Previously: MetLife up sharply on plan to separate U.S. retail operations (Jan. 12)
Apr. 2, 2014, 4:26 AM
- Blackstone (BX) is reportedly in discussions to sell six office properties in the Boston area for $2.5B, with potential buyers including MetLife (MET).
- Separately, Blackstone has agreed to acquire a 49% holding in an office property in San Francisco called One Market Plaza in a deal that values the two-tower complex at just over $1.2B. Blackstone is purchasing the stake from Paramount Group, which will continue to own the rest of the property.
- The deal is Blackstone's second in what it considers core and core-plus real estate, which refers to low-risk, well-leased buildings in major markets that provide a stable return.
Dec. 19, 2013, 8:00 AM
- Finding something to do with its cash other than buybacks, MetLife (MET), as expected, inks a deal to buy 51% of AmLife Insurance - the insurance arm of Malaysia's AMMB Holdings - for $256M.
- As part of the deal, Met will also enter an exclusive 20-year agreement to sell insurance products through AMMB's banking network.
- "For MetLife, it's an opportunity for us to enter the Malaysian market, which we believe is an attractive market given the under-penetration of life insurance, a rising middle class and growing disposable incomes," says Nirmala Menon, SVP at MetLife in Asia.
Aug. 29, 2013, 9:28 AM
- MetLife (MET) commences its tender offer for all the stock of Chilean pension fund administrator Provida (PVD).
- The acquisition was announced last February and is part of the insurer's plan to look to emerging markets for growth. Spain's BBVA has sold its 64% stake in the company to Met and the tender offer is for the remaining shares still outstanding.
Feb. 1, 2013, 11:12 AM
More on MetLife's (MET +2.2%) acquisition of Chile's Provida: The all-cash deal will boost the share of Met's operating earnings from emerging markets to 17% from 14%, and lift overall operating earnings by $0.05/share in 2013 and $0.15 in 2014. As previously mentioned, the move means investors need to ratchet down expectations for capital returns. (PR)| Feb. 1, 2013, 11:12 AM | 2 Comments
Feb. 1, 2013, 2:47 AM
MetLife (MET) has agreed to acquire Chilean pension fund administrator AFP Provida for $2B in a deal that is part of the U.S. company's strategy of expanding in emerging markets. Banco Bilbao Vizcaya Argentaria (BBVA) will sell its 64.3% stake in Provida to MetLife, which will carry out a tender offer for the other shares. (previous) (PR)| Feb. 1, 2013, 2:47 AM | 1 Comment
Jan. 14, 2013, 7:27 AM
Dec. 19, 2012, 9:36 AM
MetLife (MET) is reportedly in advanced talks to by the Chilean pension-management unit of Spain's BBVA, with sources putting the business' value at more than $2B. The deal's a natural as MetLife is looking for its growth abroad and BBVA is looking for cash to deal with problems back home.| Dec. 19, 2012, 9:36 AM
Nov. 2, 2012, 5:30 PM
JPMorgan (JPM) is buying MetLife's (MET) $70B bank mortgage servicing portfolio for an undisclosed sum. The deal boosts the size of Chase's $1.1T Servicing business by over 5%. MetLife says its entire retail banking business made up less than 2% of its 2011 operating income. (PR)| Nov. 2, 2012, 5:30 PM | 4 Comments
Sep. 21, 2012, 5:52 PM
MetLife (MET) says it's restructuring the terms of its proposed sale of its banking business to GE. Instead of selling the $7B in deposits to GE Capital Bank, MET will now sell it to another GE unit, GE Retail Bank. The new terms of the deal mean the sale must be approved by the Office of the Comptroller of the Currency rather than the FDIC, which it had met with repeatedly in recent months without getting approval to the proposed transaction.| Sep. 21, 2012, 5:52 PM
Sep. 12, 2012, 11:51 AMMetLife's (MET -1%) plan to sell its banking business to General Electric (GE +0.8%) hits another speed bump, as regulators continue to question GE's plans for the unit. The FDIC met again yesterday to discuss the matter, but failed to take any action. The deal, which was struck back in December, was to have been completed by now, and the ongoing hold-up complicates MET's effort to shed its bank-holding-company status and the capital constraints imposed by the Fed. | Sep. 12, 2012, 11:51 AM | 4 Comments
Jun. 1, 2012, 10:34 AM
May 18, 2012, 3:43 AM
Manulife Financial (MFC), Metlife (MET) and Prudential (PRU) are reportedly among the suitors set to place first-round bids today for ING's (ING) Asian life insurance unit. The deal could bring in $6.5B-7B, according to sources, continuing ING's recent tear as a divestment machine.| May 18, 2012, 3:43 AM
Mar. 26, 2012, 5:25 AM
Dec. 27, 2011, 8:04 AM
Oct. 12, 2011, 4:15 PM
MetLife (MET +3.8%) is up slightly AH after announcing it's exploring a sale of MetLife Bank's forward mortgage business, citing the strain on resources placed by the business thank to "today's uncertain marketplace and regulatory environment." In July, the company announced it would sell MetLife Bank's depository business.| Oct. 12, 2011, 4:15 PM