Deals
AIG May Be Preparing to Sell $510 Million Blackstone Stake
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American International Group Inc., the insurer that is divesting assets to repay billions of dollars in U.S. government aid, may be preparing to sell a $510 million dollar stake in Blackstone Group LP.
AIG, based in New York, notified Blackstone earlier this month that it will convert 35.7 million Blackstone partnership units into common shares, according to a Schedule 13G filed Dec. 17 with the U.S. Securities and Exchange Commission. Blackstone common shares, unlike the partnership units, trade on the New York Stock Exchange.