MetLife Aims To Buy Chile's Biggest Pension Fund

Law360, New York (January 30, 2013, 12:52 PM EST) -- MetLife Inc. confirmed late Tuesday that it was in talks to buy AFP Provida SA, Chile’s largest private pension fund manager, from Banco Bilbao Vizcaya Argentaria SA, looking for growth in Latin America to supplement its U.S. income.

New York-listed Provida has a market value of about $2.5 billion and a market-leading 3 million customers, and appears to have about $44 billion in assets under management. Its market share has fallen slightly since 2010 but it remains the largest in Chile, according to Principal Financial Group...
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