MetLife Angling to Buy Chilean Pension Business

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On Tuesday, financial services powerhouse MetLife (NYSE: MET  ) confirmed the import of a statement issued earlier in the day by Banco Bilbao Vizcaya Argentaria, or BBVA, to the effect that MetLife is in the process of negotiating a purchase of BBVA subsidiary AFP Provida (UNKNOWN: PVD.DL  ) , the largest private pension fund administrator in Chile.

Shares of AFP Provida closed up 0.9% in Tuesday trading, rising to $111.53. MetLife, too, saw its shares rise -- 0.2% to $37.72 by close of trading.

Regardless, MetLife is quick to point out that "[n]o agreement has been reached and there are no assurances that an agreement will be reached."

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Related Tickers

9/30/2016 4:00 PM
MET $44.43 Up +0.77 +1.76%
MetLife CAPS Rating: *****
PVD.DL $0.00 Down +0.00 +0.00%
AFP Provida CAPS Rating: *****