MetLife Board Approves Spin-off Of Brighthouse Financial

(RTTNews) - MetLife Inc. (MET) announced that its board has approved the spin-off of Brighthouse Financial, subject to the U.S. Securities and Exchange Commission's declaration that the Brighthouse Financial, Inc. Registration Statement on Form 10 is effective.

In addition, all necessary state insurance regulatory approvals have been granted.

Subject to the SEC's timely declaration that Brighthouse Financial's Registration Statement on Form 10 is effective, the record date will be 5 p.m. New York City time on Wednesday, July 19, 2017, and the distribution date will be 5 p.m. New York City time on August 4, 2017.

MetLife common shareholders will receive a distribution of one share of Brighthouse Financial common stock for every 11 shares of MetLife common stock they own as of the close of business on the July 19 record date.