Aetna Completes Sale of Mexican Joint Ventures.Business Editors HARTFORD, Conn.--(BUSINESS WIRE)--Nov. 30, 2000 Aetna (NYSE NYSE See: New York Stock Exchange : AET AET Aetna, Inc. AET After Extra Time AET Actual Evapotranspiration AET Alliance for Environmental Technology AET Alpha-Ethyltryptamine AET Applied Extrusion Technologies, Inc. ) today completed the sale of its 49 percent interest in its three Mexican joint ventures to Grupo Financiero BBVA Bancomer (GFBB GFBB Grupo Financiero BBVA Bancomer, SA ), its partner in bancassurance Bancassurance A French term referring to the selling of insurance through a bank's established distribution channels. Notes: The result is a bank that can offer banking, insurance, lending, and investment products to a customer. , pension and annuity businesses. GFBB and its affiliates purchased all of Aetna International's interest in the three joint ventures, AFORE a·fore adv., prep. & conj. Southern & Midland U.S. Before. [Middle English, from Old English onforan : on, at; see on + foran, Bancomer, Seguros Bancomer and Pensiones Bancomer, for approximately $700 million. Under the agreement between Aetna and ING Groep N.V., which is purchasing the bulk of Aetna's financial services and international businesses, the new Aetna will retain approximately $35 million of the sale proceeds, which will be used for general corporate purposes. A Fortune 50 company, Aetna is the nation's leading health and related benefits company with 19.2 million health members, 14.5 million dental members and 11.4 million group insurance members. Information about Aetna is available at www.aetna.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion