American Int' (AIG) to Sell Shares of AIA Group
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American International Group, Inc. (NYSE: AIG) announced today that it has commenced a sale of ordinary shares of AIA Group Limited (AIA) by means of a placing to certain institutional investors. AIG expects the pricing of the placing to occur no later than March 6, 2012.
AIG expects to use the net proceeds from the placing of AIA ordinary shares to reduce the balance due to the U.S. Department of the Treasury (Treasury) on Treasury’s preferred equity interest in the special purpose vehicle through which AIG holds the AIA ordinary shares.
AIG expects to use the net proceeds from the placing of AIA ordinary shares to reduce the balance due to the U.S. Department of the Treasury (Treasury) on Treasury’s preferred equity interest in the special purpose vehicle through which AIG holds the AIA ordinary shares.
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