MetLife has agreed to acquire the assets of Barings from KKR, a USA insurance company, in a move aimed at boosting its Asset Management business.
A statement released on Monday shows that MetLife's institutional Asset Management arm, MetLife Investment Management, will acquire Barings, which manages approximately 100 billion dollars in assets, for 0.8 billion dollars. This Trade also includes an additional 0.2 billion dollars tied to achieving specific financial goals by 2025, as well as another 0.2 billion dollars linked to multi-year profitability.
As of Monday at 11:34 AM, MetLife shares were down less than 1%, with a Market Cap of approximately 56 billion dollars.
The Trade is expected to be completed by 2025.