Summary
MetLife, Inc. has announced the sale of its subsidiaries in Greece and Poland to NN Group N.V. for a total consideration of $738 million. This strategic divestiture is expected to contribute positively to MetLife's earnings per share starting in 2022 and thereafter, indicating a potential improvement in profitability and a streamlining of its international operations. The transaction is subject to regulatory approvals and other customary closing conditions, with an anticipated closing in the first half of 2022.
Key Highlights
- 1MetLife to sell subsidiaries in Greece and Poland to NN Group N.V.
- 2Total consideration for the sale is $738 million.
- 3An expected pre-closing dividend of $43 million is included in the consideration.
- 4Closing of the transactions is expected in the first half of 2022.
- 5The sale is subject to regulatory approvals and customary closing conditions.
- 6Transactions are expected to be accretive to MetLife's earnings per share in 2022 and beyond.