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Sovereign Wealth Funds Briefing - Categorized | Market

AIG unit that’s too big to sell means Asia IPO likely

Posted on 03 June 2010

From Bloomberg: American International Group Inc.’s main Asia unit, with 320,000 agents and 23 million customers, may be too large for a rival to purchase, leaving a public offering the most likely route for divesting the business. AIG is considering talks with Temasek and a Qatar sovereign wealth fund as investors in conjunction with the IPO.
Prudential Plc’s agreement to buy AIA Group Ltd. faltered after investors of the London-based firm balked at the $35.5 billion price and AIG rejected a reduced offer. AIG, which was rescued by the U.S. in 2008, could return to its earlier plan of holding a stock offering, the Treasury Department said May 26…………………………………………Full Article: Source

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