Metlife purchasing Chile’s largest privat pension fund

Posted on February 2, 2013 • Filed under: Business, Chile

santiagotimes.cl reported that MetLife announced its agreement Friday with Spanish bank BBVA after several weeks of negotiation to buy AFP Provida, Chile’s biggest private pension fund provider, for approximately US$2 billion in cash this Friday. BBVA will be transferring its 64.3 percent stake to MetLife, which hopes to expand its presence in fast-growing developing markets when burdened with low interest rates in the United States. Read Article

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