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AIG (AIG) Enters Agreement to Sell AIG Advisor Group
January 26, 2016 7:03 AM ESTAmerican International Group, Inc. (NYSE: AIG) announced that it has agreed to sell AIG Advisor Group to investment funds affiliated with Lightyear Capital LLC, a private equity firm specializing in financial services investing, and PSP Investments, one of Canadas largest pension investment managers. Terms of the deal were not disclosed.
The transaction is expected to close in the second quarter... More
AIG (AIG) Announces Strategic Actions; Will IPO United Guaranty Corporation, Return ~$25B to Shareholders
January 26, 2016 7:02 AM ESTAmerican International Group, Inc. (NYSE: AIG) announced a series of strategic actions, organizational changes, and operating improvements to create a leaner, more profitable and focused insurer.
The Board of Directors has committed to return at least $25 billion of capital to shareholders over the next two years via buybacks and dividends without compromising the utilization of the Companys deferred tax assets (DTA); approved the IPO of up to 19.9% of United Guaranty Corporation (UGC) as a first step towards a full separation; and approved the sale of AIG Advisor Group to Lightyear Capital... More
