AIG To Sell Off $6.7B Stake In Asian Insurer

Law360, New York (December 17, 2012, 12:05 PM EST) -- American International Group Inc., which shook off the last of its 2008 government bailout, said Monday it would offer its remaining stake in its Asian subsidiary, valued at about HK$52 billion (US$6.7 billion), to Hong Kong investors, completing a sell-down that began two years ago.

AIG's 13.7 percent stake's value is based on Friday's closing price for AIA Group Ltd. The company did not price the shares publicly, but the Wall Street Journal reported a range of HK$29.65 to $30.65, which could raise up to US$6.5...
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