NEW YORK (AP) — MetLife Inc. plans to pay about $2 billion to buy the largest private pension fund administrator in Chile, as the insurer and annuity provider seeks to build its presence in emerging markets.
The New York company said Friday it will conduct a public cash tender offer for all shares of AFP Provida SA.
The bank BBVA has agreed to transfer its stake of more than 64 percent in the company to MetLife as part of the deal, which also includes a small asset management business in Ecuador.
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