AIG Announces Pricing of Sale of Ordinary Shares of AIA Group Limited - American Intl Gr (NYSE:AIG)

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American International Group (NYSE: 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 See full press release

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