7 May 2012

Merger announced by Metlifecare

11:11 am on 7 May 2012

Metlifecare is set to expand its portfolio after announcing a merger with two other companies.

The retirement village and aged care company says it's signed merger agreements to acquire Vision Senior Living and Private Life Care.

Chief executive Alan Edwards says the deal is subject to a number of approvals, including from shareholders next month.

He says the deal values total assets at about $2 billion.

If the deal goes through, Metlifecare would have 24 villages, including some under development, and about four thousand units.