AIG Sells More of its AIA Stake
Most recent IPO will leave AIG with an approximate 19-percent stake in AIA.
INN Breaking News, March 5, 2012
American International Group took further action to remove its connection to federal bailout funds afforded it during the 2008 financial crisis. Following its sale of two-thirds of its China-based AIA subsidiary in 2010, the company confirmed that it’s selling another $6 billion AIA Group Ltd. shares to further pay back the U.S. government the funds it acquired under the Troubled Asset Relief Program (TARP).
All Insurance Networking News articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, podcasts, e-books, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders and developing trends.