AIG raises $37bn to repay bailout (BBC)

eppur_se_muova

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Mon Nov-01-10 02:39 PM
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AIG raises $37bn to repay bailout (BBC)

AIG, the US insurer bailed out by the US government at the height of the credit crisis, has raised almost $37bn (£23bn) to repay its $100bn debt.

It raised $20.51 bn by floating AIA on the Hong Kong stock market.

British insurer Prudential was on the verge of buying AIA for $35.5bn earlier this year, but backed away after shareholder opposition.

AIA's stock market value rose to $35.7bn last week, shortly after its shares were listed in Hong Kong.

AIG also announced it had sold American Life Insurance Co (Alico) to insurance company MetLife for $16.2bn.
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more: http://www.bbc.co.uk/news/business-11668461

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