AIG Selling Japanese Units To Prudentail (AIG)

As it continues to pay down its debt to the U.S. government, AIG

continues to sell pieces of its company to other insurers. AIG is in talks to sell its Japanese units to Prudential

for $4.8 billion in cash,

The subsidiaries that are being discussed are Star Life Insurance Co. and AIG Edison Life Insurance Co. Prudential has been on the hunt for acquisitions, as it is very overcapitalized and needs to grow its business through acquisitions. Shares of AIG are up 28 cents to $37.60, and Prudential is up $1.45 to $57.25 in early Wednesday trading.