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AIG offers up to $2 bln stake of AIA Group in block sale - IFR
September 6, 2012 / 9:06 AM / 5 years ago

AIG offers up to $2 bln stake of AIA Group in block sale - IFR

1 Min Read

HONG KONG, Sept 6 (Reuters) - U.S. insurer American International Group plans to raise up to $2 billion by selling part of its stake in AIA Group Ltd, IFR reported on Thursday, citing a term sheet of the deal.

AIG is offering about 600 million shares in a range of HK$25.75 TO HK$26.75 each, equivalent to a discount of 2.1 percent and a premium of 1.7 percent to AIA's Thursday close of HK$26.3, the term sheet showed. IFR is a Thomson Reuters publication.

The deal comes two days after a lockup on the shares expired on Sept. 4 and six months after AIG sold a $6 billion stake in AIA.

Deutsche Bank and Goldman Sachs were hired to jointly manage the offering.

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