AIG Divestitures Pass $50 Billion With AIA Offering: Table

American International Group Inc. has disclosed agreements to divest assets for more than $50 billion since the U.S. government rescued the insurer in 2008.

The $20.5 billion public offering of AIA Group Ltd., the largest in Hong Kong’s history, is the biggest of more than 30 sales by New York-based AIG. The firm raised $17.8 billion last week and $2.7 billion today by selling AIA shares and retains a 33 percent stake in the Hong Kong-based insurer.

AIG has used proceeds to pay down debts on a Federal Reserve credit line. The insurer owes the Treasury Department about $49 billion. The following table lists AIG’s divestitures and the dates they were announced.

    Date                     Unit             Buyer    Price($m)
 9/29/08     London Airport stake     Credit Suisse        n/a
11/26/08  Stake in Brazil venture          Unibanco        820
 12/1/08             Private Bank             Aabar        308*
12/19/08    German insurance unit     Augur Capital         26
12/22/08           Hartford Steam         Munich Re        818*
 1/13/09      Canadian life units  Bank of Montreal        263
 1/19/09     Commodity index unit            UBS AG         15**
 1/23/09        Philippines units East-West Banking         49
  2/5/09               Thai units   Bank of Ayudhya         45
 3/26/09   Taiwan securities unit   Bank of E. Asia        n/a
 4/16/09   21st Century Insurance  Zurich Financial      2,000*
 5/11/09       Japan headquarters       Nippon Life      1,200
  6/2/09   Argentine finance unit  Banco de Galicia         69
  6/4/09   Transatlantic Holdings   public offering      1,136+
  6/9/09    New York headquarters             Kumho        n/a
 6/19/09           ForEx platform       BNP Paribas        n/a
 6/24/09          Mexican finance Afirme, Consorcio        n/a
 6/29/09             Russian bank        Banque PSA        n/a
 6/30/09  Taiwan credit-card unit       Far Eastern        n/a
 7/28/09   Life insurance finance          Wintrust        680^
 7/29/09  Polish consumer finance   Banco Santander        n/a
 8/11/09            Energy assets   multiple buyers      1,900^^
 8/12/09        Hong Kong finance  China Construct.         70
 8/12/09  India information tech.           Mphasis        n/a
  9/5/09          AIG Investments   Pacific Century        500
12/23/09 Israeli mortgage insurer   Harel Insurance         36
  1/5/10  Canada mortgage insurer  Ontario Teachers        n/a
  3/8/10                    Alico       MetLife Inc     15,500
  3/9/10   Transatlantic Holdings   public offering        452~
 4/13/10           53 ILFC planes   Macquarie Group      1,987
 8/11/10 American General Finance          Fortress        125
 9/30/10             Star, Edison    Pru. Financial      4,800*
10/22/10           AIA Group Ltd.   public offering     20,500+

Total                                                   53,299

Notes: Table does not include deal to sell Nan Shan Life Insurance Co., which was canceled.

Some company names have been abbreviated for space. Not all deals have been completed.

*Includes assumed debt.

**Excludes potential $135 million payment based on future performance.

+Includes sale of additional shares later in the month.

~AIG divested Transatlantic Holdings in two offerings.

^Excludes potential purchase of assets for $61.2 million.

^^Includes previously disclosed deals such as Spanish solar plants to HG Capital, interests in oil and gas contracts to an undisclosed buyer and stakes in gas storage and marketing ventures to Tenaska.

To contact the reporter on this story: Natalie Doss in New York at ndoss@bloomberg.net; Hugh Son in New York at hson1@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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