METLIFE COMPLETES TENDER OFFER FOR AD AND COMMON SHARES OF AFP PROVIDA S.A.

NEW YORK - Sept. 30, 2013 - MetLife, Inc. ( MetLife ) (NYSE: MET) announced today 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 U.S. $6.1476 per common share and U.S. $92.2140 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 at 11:59 p.m. New York City time, 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.

The Bank of New York Mellon (the U.S. Tender Agent ) informed MetLife and Purchaser that a total of 4,851,876 ADSs (equal to 72,778,140 common shares), representing approximately 21.97% of the currently outstanding common shares of Provida, were validly tendered and not withdrawn in the U.S. Offer. This includes 2,805,099 ADSs tendered by Banco Bilbao VizcayaArgentaria S.A. ( BBVA ), representing 42,076,485 common shares of Provida, and 220,508 ADSs tendered by Notice of Guaranteed Delivery. No common shares were tendered into the U.S. Offer and no holders that tendered ADSs into the U.S. Offer elected to receive payment in Chilean Pesos. Purchaser has accepted for payment all ADSs validly tendered and not withdrawn in the U.S. Offer and will promptly deposit the aggregate purchase price in U.S. Dollars with the U.S. Tender Agent.

Larra n Vial S.A. Corredora de Bolsa and BanchileCorredores de Bolsa S.A. (the Chilean agents ) informed MetLife and Purchaser that a total of 58,949,845 common shares were validly tendered and not withdrawn in the Chilean Offer, representing approximately 17.79% of the currently outstanding common shares. Purchaser has accepted for payment all common shares tendered pursuant to the Chilean Offer.

Simultaneously with payment by Purchaser to the U.S. Tender Agent and Chilean agents for the ADSs and common shares validly tendered and not withdrawn in the Offers, BBVA will, subject to the terms and conditions of the Transaction Agreement, cause the transfer to Purchaser of 100% of the issued and outstanding shares of capital stock of InversionesPrevisionales, thereby transferring indirectly the 171,023,573 common shares of Provida held by InversionesPrevisionales, representing approximately 51.62% of the outstanding common shares of Provida.

Upon consummation of the Offers and the transfer of InversionesPrevisionales shares, MetLife will indirectly own 299,443,938 common shares, in both common share and ADS form, representing approximately 90.38% of the outstanding common shares of Provida. In addition, subject to actual delivery of the ADSs tendered by Notice of Guaranteed Delivery pursuant to the U.S. Offer, Purchaser could increase such ownership to up to 302,751,558 common shares (including those in ADS form), representing approximately 91.38% of the outstanding common shares of Provida.

About MetLife

MetLife, Inc. is a leading global provider of insurance, annuities and employee benefit programs, serving 90 million customers. Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

This press release may contain or incorporate by reference information that includes or is based upon forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give expectations or forecasts of future events. These statements can be identified by the fact that they do not relate strictly to historical or current facts. They use words such as anticipate, estimate, expect, project, intend, plan, believe and other words and terms of similar meaning in connection with a discussion of future operating or financial performance. In particular, these include statements relating to future actions, prospective services or products, future performance or results of current and anticipated services or products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, trends in operations and financial results.

Any or all forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Many such factors will be important in determining the actual future results of MetLife, Inc., its subsidiaries and affiliates. These statements are based on current expectations and the current economic environment. They involve a number of risks and uncertainties that are difficult to predict. These statements are not guarantees of future performance. Actual results could differ materially from those expressed or implied in the forward-looking statements. Risks, uncertainties, and other factors that might cause such differences include the risks, uncertainties and other factors identified in MetLife, Inc.'s filings with the U.S. Securities and Exchange Commission (the SEC ). These factors include: (1) difficult conditions in the global capital markets; (2) increased volatility and disruption of the capital and credit markets, which may affect our ability to meet liquidity needs and access capital, including through our credit facilities, gener

LINK:	https://www.metlife.com/about/press-room/us-press-releases/2013/index....
	See more stories from metlife

Most recent headlines