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American International Group
AIG announced today that it
has priced the sale of approximately 591.9 million ordinary shares of
AIA Group Limited (AIA) by means of a placing to certain institutional
investors. 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.
Upon the closing of the placing, which is scheduled for September 11,
2012, and is subject to customary closing conditions, AIG will receive
gross proceeds of approximately US$2 billion, based upon a purchase
price of HK$26.50 (approximately US$3.42) per share. AIG expects to use
the net proceeds from the placing of AIA ordinary shares for general
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