MetLife is in advance talks to acquire A.F.P. Provida, a Chilean company which administers pensions for Chilean citizens, according to sources.
John Nadel, an analyst at Sterne Agee & Leach, cited a report from Bloomberg estimates that a deal could be reached “within days or weeks.”
Nadel said that the Bloomberg story “is not the first mention of Met’s potential interest in Provida, but it is clearly the most specific in terms” of timing.
Provida is part of the Chilean pension system, and is the largest of the Chilean pension managers.
This system requires Chilean workers to contribute to privately-run pension plans that manage the money on their behalf for retirement.