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Wednesday, December 19, 2012

End of AIG era

HONG KONG: US insurance company AIG sold its remaining stake in Asian life insurer AIA Group for $6.4 billion, the Hong Kong based-company said Tuesday. 

American International Group Ltd. has sold nearly 1.65 billion shares, which shows AIG's remaining stake of approximately 14%, at 30.30 Hong Kong dollars ($3.90) each, AIA Group Ltd. said in a statement to the Hong Kong stock exchange

The selling price was a 4.3% discount to Friday's closing price of Hong Kong $31.65. 

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