UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) March 29, 2005
MetLife, Inc.
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(Exact Name of Registrant as Specified in Its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
1-15787 13-4075851
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(Commission File Number) (IRS Employer Identification No.)
200 Park Avenue, New York, New York 10166-0188
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(Address of Principal Executive Offices) (Zip Code)
212-578-2211
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(Registrant's Telephone Number, Including Area Code)
N/A
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
On March 29, 2005, Metropolitan Life Insurance Company ("MetLife"), a
wholly-owned subsidiary of MetLife, Inc., entered into a purchase and sale
agreement (the "Agreement"), with 1 Madison Venture LLC, a Delaware limited
liability company ("1 Madison"), and Column Financial, Inc., a Delaware
corporation ("Column"). Pursuant to the Agreement, MetLife agreed to sell and 1
Madison and Column (collectively, "Purchaser") agreed to purchase MetLife's
interest in the property and the buildings known by the street address One
Madison Avenue, New York, New York ("One Madison Avenue"). Credit Suisse First
Boston (USA), Inc. ("CSFB"), which currently leases approximately 1,173,000
square feet of a total of approximately 1,400,000 rentable square feet in the
buildings, is the beneficial owner of Column. Robert H. Benmosche, chairman and
chief executive officer of MetLife, is a director of Credit Suisse Group, the
parent company of CSFB. The purchase price for the property as set forth in the
Agreement is $918 million, subject to customary closing adjustments. It is
anticipated that the sale will close in the second quarter of 2005, subject to
customary closing conditions. A copy of the press release announcing the sale of
One Madison Avenue is attached hereto as Exhibit 99.1 and is incorporated herein
by reference.
On April 1, 2005, Metropolitan Tower Life Insurance Company ("Met Tower Life"),
a wholly-owned subsidiary of MetLife, Inc., entered into a purchase and sale
agreement (the "Purchase and Sale Agreement") with Tishman Speyer Development,
L.L.C., a Delaware limited liability company ("Tishman Speyer Development").
Pursuant to the Agreement, Met Tower Life agreed to sell and Tishman Speyer
Development agreed to purchase Met Tower Life's interest in the property known
by the street address 200 Park Avenue, New York, New York ("200 Park Avenue").
The purchase price for the property as set forth in the Purchase and Sale
Agreement is $1.72 billion, subject to customary closing adjustments. Pursuant
to the Purchase and Sale Agreement, Met Tower Life reserves the right to
maintain the roof top and other prominent MetLife signs on the building. The
Purchase and Sale Agreement provides for the occupancy by MetLife of space
within the building for various company offices and the MetLife boardroom. It
is anticipated that the sale will close in the second quarter of 2005, subject
to customary closing conditions. A copy of the press release announcing the
sale of 200 Park Avenue is attached hereto as Exhibit 99.2 and is incorporated
herein by reference.
Item 9.01 Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) 10.1 One Madison Avenue Purchase and Sale Agreement between
Metropolitan Life Insurance Company, as Seller, and 1 Madison
Venture LLC and Column Financial, Inc., collectively as
Purchaser, as of March 29, 2005.
10.2 MetLife Building, 200 Park Avenue, New York, NY Purchase and Sale
Agreement between Metropolitan Tower Life Insurance Company, as
Seller, and Tishman Speyer Development, L.L.C., as Purchaser, as
of April 1, 2005.
99.1 Press release of MetLife, Inc. dated March 30, 2005.
99.2 Press release of MetLife, Inc. dated April 1, 2005.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
METLIFE, INC.
By: /s/ Gwenn L. Carr
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Name: Gwenn L. Carr
Title: Senior Vice-President and Secretary
Date: April 4, 2005
EXHIBIT INDEX
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Exhibit
Number Exhibit
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10.1 One Madison Avenue Purchase and Sale Agreement between
Metropolitan Life Insurance Company, as Seller, and 1 Madison
Venture LLC and Column Financial, Inc., collectively as
Purchaser, as of March 29, 2005.
10.2 MetLife Building, 200 Park Avenue, New York, NY Purchase and
Sale Agreement between Metropolitan Tower Life Insurance
Company, as Seller, and Tishman Speyer Development, L.L.C., as
Purchaser, as of April 1, 2005.
99.1 Press release of MetLife, Inc. dated March 30, 2005.
99.2 Press release of MetLife, Inc. dated April 1, 2005.