AIG Pulls Out of AIA Just as U.S. Pulls Out of AIG

  Google+  Twitter | + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

It seems AIG (NYSE:AIG) will finally be cutting ties with its roots, as it tries selling off its last 1.65 billion shares in AIA, AIG’s Asia-based predecessor. The sale, prompted by AIG’s near-collapse and subsequent bailout in 2008, could raise nearly $6.5 billion for AIG, which the group will use for corporate purposes.

Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.

AIG began the sell-off in 2010, with the world’s third-largest IPO ever. Since then, AIA’s shares have gone up 61 percent. The offering is being coordinated by¬†Deutsche Bank AG (NYSE:DB) and Goldman Sachs Group Inc (NYSE:GS). The sale of AIA’s shares has been attracting investors with an eye for the growing insurance market in Asia.

After the $182 billion bailout by the U.S. government 4 years ago, the U.S. Treasury Department finished selling off its shares of AIG last Friday.

Don’t Miss: AIG: The End of an Era.

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business