AIG Sells $6 Billion AIA Shares to Help Repay U.S. Rescue
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American International Group Inc., the insurer that received bailout after the collapse of Lehman Brothers Holdings Inc., is selling $6 billion of AIA Group Ltd. shares to help pay back the U.S. government.
The insurer is offering about 1.7 billion AIA shares at HK$27.15 to HK$27.50 a share to institutional investors who weren’t identified, according to a sales document obtained by Bloomberg. New York-based AIG will hold about 19 percent of AIA after the stock sale.