AIG Announces Proposed Sale of Ordinary Shares of AIA Group Limited

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American International Group, Inc.
AIG
announced today that it has commenced a sale in Hong Kong of up to $2 billion worth of ordinary shares of AIA Group Limited (AIA) by means of a placing to certain institutional investors. AIG expects to use the net proceeds from the placing of AIA ordinary shares for general corporate purposes, which may include share repurchases or other capital management. Immediately following the sale, AIA Aurora LLC, a wholly-owned subsidiary of AIG, expects to transfer all of its remaining interest in AIA to its parent, AIG. The ordinary shares have not been and will not be registered under the Securities Act of 1933, as amended (the Securities Act), or any other
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Posted In: NewsGuidanceM&A
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