Dexia To Sell Turkish Life Insurance Business To MetLife

Franco-Belgian financial services group Dexia SA

agreed to sell its Turkish life insurance business to MetLife Inc

for 162 million euros ($229.3 million). The transaction is likely to close by the end of 2011. MetLife will buy Dexia's 99.86% stake in DenizEmeklilik, the life insurance and pension unit of DenizBank. Dexia bought Denizbank in 2006. MET shares dropped 0.63% to close at $40.99 on Friday. Read more