Key Developments: Metlife Inc (MET.N)

MET.N on New York Stock Exchange

55.50USD
22 Jul 2014
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$-0.01 (-0.02%)
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Latest Key Developments (Source: Significant Developments)

Metlife Inc agrees to invest in $300 million luxury tower in san francisco with UDR Inc
Wednesday, 11 Dec 2013 09:00am EST 

Metlife Inc:Signs a joint venture agreement with UDR Inc to invest in the construction of a luxury high-rise residential development in San Francisco.Says it will have a 49 pct share of the project, and UDR, a multifamily real estate investment trust, will own 51 pct.  Full Article

Metlife Inc Declares Fourth Quarter 2013 Preferred Stock Dividends
Friday, 15 Nov 2013 04:32pm EST 

MetLife, Inc announced that it has declared fourth quarter 2013 dividends of $0.2527777 per share on the Company's floating rate non-cumulative preferred stock, Series A, and $0.4062500 per share on the Company's 6.50% non-cumulative preferred stock, Series B. Both dividends are payable December 16, 2013, to shareholders of record as of November 30, 2013.  Full Article

Metlife Inc Declares Fourth Quarter 2013 Common Stock Dividend
Tuesday, 22 Oct 2013 05:02pm EDT 

Metlife Inc announced that it has declared a fourth quarter 2013 common stock dividend of $0.275 per share. The dividend will be payable on Dec. 13, 2013, to shareholders of record as of Nov. 8, 2013.  Full Article

Banco Bilbao Vizcaya Argentaria SA Completes Sale Of Its Entire 64.3% Stake In Administradora de Fondos de Pensiones Provida SA To Metlife Inc’s Subsidiaries
Wednesday, 2 Oct 2013 02:16am EDT 

Banco Bilbao Vizcaya Argentaria SA (BBVA) announced, as a continuation to the press release dated February 1, 2013, that it has completed the sale of its entire 64.3% stake in Administradora de Fondos de Pensiones Provida SA (AFP Provida) to Metlife Inc’s subsidiaries. The total amount of cash received by BBVA for selling the stake amounted to approximately USD 1,540 million (approximately USD 1,310 million as the sale price and approximately USD 230 million in dividends distributed by AFP Provida since February1, 2013), generating a net capital gain amounting to approximately EUR 500 million.  Full Article

Metlife Inc's Subsidiary Completes Tender Offer For ADSs And Common Shares Of AFP Provida S.A.
Monday, 30 Sep 2013 06:00am EDT 

MetLife, Inc (MetLife) announced that the expiration of the tender offer (the U.S. Offer) by its subsidiary, MetLife Chile Acquisition Co. S.A. (the Purchaser), for all of the outstanding common shares of AFP Provida S.A. (Provida) that are held by U.S. holders, and all of the outstanding American Depositary Shares (ADSs), each representing fifteen common shares of Provida, from all holders, wherever located, at a price of USD6.1476 per common share and USD92.2140 per ADS, in each case, in cash, without interest, payable in U.S. Dollars or Chilean Pesos, at the election of tendering holders. The U.S. Offer expired on September 27, 2013. MetLife also announced the expiration of the simultaneous tender offer in Chile (the “Chilean Offer,” and together with the U.S. Offer, the “Offers”) by Purchaser to purchase all of the outstanding common shares of Provida from all holders of common shares, wherever located, for the same price and on substantially the same terms as the common shares of Provida offered to be purchased in the U.S. Offer.  Full Article

Metlife Inc and BIDV Sign Joint Venture Agreement to Form a Life Insurance Company
Thursday, 26 Sep 2013 09:30pm EDT 

Metlife Inc, Bank for Investment & Development of Vietnam (BIDV), and Bank for Investment and Development of Vietnam Insurance Corporation (BIC) announced that it has signed an agreement to establish a life insurance joint venture (JV) in Vietnam. The signing ceremony was witnessed by Prime Minister Nguyen Tan Dung of Vietnam, Tran Bac Ha, chairman of the board of management of BIDV, and Kurt Campbell, member of MetLife`s board of directors and former assistant secretary of state, during the prime minister`s visit to the United States. The JV follows the Memorandum of Understanding (MOU) that was previously signed by both parties in July of this year and delivers on a key component of MetLife`s strategy: expanding its presence in emerging markets. At the same time, the JV also represents BIDV`s strategic direction into the field of life insurance, which is in line with and complements the bank`s business tradition. The new JV will have a charter capital of VND 1 trillion (approximately USD48 million), and MetLife will own 60% of the company and BIDV and BIC will have the remaining 40%. The joint venture will initially focus on offering life and health insurance products. Alongside the establishment of the JV, there is also an exclusive bancassurance distribution agreement between the JV and BIDV.  Full Article

Metlife Inc And Thayer Lodging Group Acquires Hilton Resort In Mexico In Joint Venture
Monday, 23 Sep 2013 06:15am EDT 

MetLife Inc and Thayer Lodging Group announced that they have acquired the 365-room Hilton Los Cabos Beach & Golf Resort in Cabo San Lucas, Mexico in a joint venture. MetLife and Thayer Lodging Group purchased the luxury resort from Oasis Cabo LLC. The purchase price was not disclosed. MetLife is the majority investor in the joint venture with Thayer Fund VI.  Full Article

AMMB Holdings Bhd Looking To Sell 51% In Insurance Unit; Sees Manulife Financial Corp., MetLife Inc. and ACE Group As Probable Buyers-DJ
Wednesday, 18 Sep 2013 06:39am EDT 

Dow Jones reported that AMMB Holdings Bhd which had earlier sought to sell up to 70% in its life insurance business, is now looking to sell a smaller amount of up to 51%, after banking regulators expressed concerns about the extent of foreign ownership in the deal. AMMB short-listed global insurers Manulife Financial Corp., MetLife Inc. and ACE Group as buyers for the bulk of its conventional insurance business, and in its Islamic insurance arm or takaful earlier this year, in a deal that could have been worth as much as $600 million. Parties involved have yet to agree on the size of the stakes they will be bidding for. A final candidate will be presented to Bank Negara Malaysia by October for the deal to be completed by the end of this year.  Full Article

Metlife Inc's Subsidiary Announces Cash Tender Offer To Acquire AFP Provida S.A
Thursday, 29 Aug 2013 09:02am EDT 

Metlife Inc announced that MetLife Chile Acquisition Co. S.A. (Purchaser), a wholly owned subsidiary of MetLife, Inc., has commenced a tender offer (the U.S. Offer) for all of the issued and outstanding common shares of AFP Provida S.A. (Provida) that are held by U.S. holders, and all of the outstanding American Depositary Shares, each representing fifteen common shares of Provida, from all holders, wherever located. Purchaser is offering to pay USD6.1476 per common share and USD92.2140 per ADS, in each case, in cash, without interest, payable in U.S. Dollars or Chilean Pesos, at the election of tendering holders.  Full Article

Metlife Inc Declares Third Quarter 2013 Preferred Stock Dividends
Thursday, 15 Aug 2013 04:23pm EDT 

Metlife Inc announced that it has declared third quarter 2013 dividends of $0.2555555 per share on the Company's floating rate non-cumulative preferred stock, Series A, and $0.4062500 per share on the company`s 6.50% non-cumulative preferred stock, Series B. Both dividends are payable September 16, 2013 to shareholders of record as of August 31, 2013.  Full Article

UPDATE 1-Market Chatter-Corporate finance press digest

(Adds items on China Huarong, Bulgaria cbank governor, Metlife, Repsol and JPMorgan Chase)

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