Tags: US | AIG | Prudential | Financial

AIG to Sell Two Japanese Units for $4.2 Billion

Thursday, 30 Sep 2010 07:04 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

AIG, which reportedly is close to a deal to pay back federal bailout money, says it will sell its two Japanese life insurance units to Prudential Financial Inc. for about $4.2 billion in cash.

The transaction also includes $600,000 in third-party debt, bringing its total value to approximately $4.8 billion, the insurance company said Thursday.

The sale includes AIG Star Life Insurance Co. and AIG Edison Life Insurance Co. and is part of AIG's plan to repay government bailout money.

AIG was one of the hardest hit financial companies by the credit crisis and received an aid package worth as much as $180 billion. The Wall Street Journal reported Thursday that AIG and federal overseers are finalizing a plan that would allow the insurer to eventually exit from U.S. ownership.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved