Summary Box: AIG’s $15.5B Alico sale to MetLife (AP)

AP – THE SALE: American International Group Inc. sold its American Life Insurance Co. division, or Alico, to MetLife Inc. for $15.5 billion. The deal is AIG’s second big asset sale in two weeks. On March 1, it said it would sell its AIA Group unit to Prudential PLC for $35.5 billion.

If you enjoyed this post, make sure you subscribe to my RSS feed!

AIG sells Alico unit to MetLife for $15.5 billion (AP)

FILE - In this March 18, 2009 file photo, an AIG office building is shown in New York. American International Group will sell its overseas life and health insurance unit for $15.5 billion to MetLife Inc., the insurer said Monday, March 8, 2010, as it attempts to repay billions in government aid.(AP Photo/Mark Lennihan, file)AP – American International Group Inc. said Monday that it will sell its American Life Insurance Co. division for $15.5 billion to MetLife Inc. The government-approved deal, AIG’s second big asset sale in two weeks, will give the insurer more cash to repay the billions of bailout dollars it still owes the government.

If you enjoyed this post, make sure you subscribe to my RSS feed!

MetLife seals Alico deal after two-year quest (Reuters)

A statue stands atop Grand Central Station in front of the MetLife building in New York, October 8, 2008. REUTERS/Lucas JacksonReuters – MetLife Inc pursued AIG’s foreign life insurance business for two years before finally clinching a $15.5 billion purchase that will give it beachheads in 47 nations from Peru to Bangladesh.

If you enjoyed this post, make sure you subscribe to my RSS feed!

Tagged with:
 

US insurer MetLife to buy AIG unit for $15.5 bln (AFP)

Spectators gather around the MetLife blimp at the United States Air Force Museum in Dayton, Ohio, in 2003. US life insurance giant MetLife will acquire a unit of American International Group in a 15.5-billion-dollar deal that will help AIG pay back part of its government bailout, the firms said Monday.(AFP/Getty Images/File/Mike Simons)AFP – US life insurance giant MetLife will acquire a unit of American International Group in a 15.5-billion-dollar deal that will help AIG pay back part of its government bailout, the firms said Monday.

If you enjoyed this post, make sure you subscribe to my RSS feed!

Tagged with:
 

AIG to get $231M if sale of Asian unit crumbles (AP)

AP – American International Group Inc. will receive a termination fee of $230.6 million if the sale of its Asian life insurance business to Britain’s Prudential PLC falls through.

If you enjoyed this post, make sure you subscribe to my RSS feed!

MetLife near $15 billion deal for AIG unit (Reuters)

A statue stands atop Grand Central Station in front of the MetLife building in New York, October 8, 2008. REUTERS/Lucas JacksonReuters – A tax question holding up American International Group Inc’s sale of its foreign life insurance unit to MetLife Inc is expected to be resolved favorably, clearing the way for a roughly $15 billion deal, sources familiar with the matter said on Thursday.

If you enjoyed this post, make sure you subscribe to my RSS feed!

UK’s Pru to buy AIG Asia unit for $35.5 billion (Reuters)

The logo of British life insurer Prudential is seen on their building, in London October 21, 2008. REUTERS/Stephen HirdReuters – Britain’s Prudential will buy American International Group’s Asian life insurance arm for $35.5 billion in the insurance sector’s biggest deal ever, helping the bailed-out U.S. group repay a big chunk of its taxpayer debt.

If you enjoyed this post, make sure you subscribe to my RSS feed!

Summary Box: Corporate dealmaking lifts stocks (AP)

AP – IN LIKE A LION: Stocks began March with hefty gains after several corporate buyouts raised hopes that the economy is strengthening. American International Group, owned mainly by taxpayers, sold its Asian life insurance business to Britain’s Prudential for $35.5 billion.

If you enjoyed this post, make sure you subscribe to my RSS feed!

AIG agrees to $35.5 billion unit sale to Prudential: sources (Reuters)

The logo of British life insurer Prudential is seen on their building, in London October 21, 2008. REUTERS/Stephen HirdReuters – American International Group Inc agreed to the sale of its Asian life insurance unit to Britain’s Prudential Plc for about $35.5 billion, in a deal that would help the U.S. government get back billions of its bailout money, sources familiar with the matter said on Sunday.

If you enjoyed this post, make sure you subscribe to my RSS feed!

UK’s Pru plans $20 billion rights offering (Reuters)

Reuters – Britain’s Prudential Plc plans to do a rights offering of about $20 billion to finance a $35.5 billion purchase of American International Group’s Asian life insurance unit, a source familiar with the situation said on Sunday.

If you enjoyed this post, make sure you subscribe to my RSS feed!

Resources 

 

Categories