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.
- Press release.
Administradora de Fondos de Pensiones-Provida is a private pension fund administrator. Its activities include investment & collection of clients' contributions, management of individual capitalization accounts & provision of life & disability benefits.
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