AFP Provida offers private pension fund administration and related services in the Republic of Chile. Its services include collection for individual capitalization accounts, voluntary savings accounts, voluntary pension savings, life and disability benefits, investment services, and accounts administration.
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MetLife Chile is offering to pay $6.14 per common share and $92.21 per ADS, in cash respectively.
Along with the US Offer, MetLife Chile is making an offer in Chile to purchase all of the outstanding common shares of Provida from all holders of common shares, wherever located, for the same price and for the same terms.
As previously announced, Banco Bilbao Vizcaya Argentaria has agreed to transfer its 64.3% stake in Provida to MetLife pursuant to the transaction agreement, signed on 1 February 2013.
Upon consummation of the transactions contemplated in the transaction agreement, MetLife will own at least a 64.3% stake in Provida.
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