Aetna To Sell Mexican Joint Ventures for $693 Million

As part of the impending sale of its international units to Holland’s ING Group, Aetna announced that it had reached agreement with its Mexican partner Grupo Financiero BBVA Bancomer, to sell its interests in three joint ventures for a total of $693 million.

BBVA-Bancomer will become the 100 percent owner of the insurance company Seguros Bancomer, and pension firm Pensiones Bancomer by acquiring Aetna’s 49 percent interest.

It will also acquire a 75 percent interest in AFORE Bancomer, a retirement fund. The other 25 percent will be acquired by its Spanish parent Banco Bilbao Vizcaya Argentaria.

Topics Mergers & Acquisitions Mexico