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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment, Market

AIG eyes deal with sovereign wealth funds

Posted on 03 June 2010

From Todayonline.com: Plans by Prudential of Britain to become Asia’s biggest insurer are in tatters after talks to cut the agreed US$35.5 billion ($50 billion) price-tag of AIA collapsed amid speculation that its owner, American International Group (AIG), was instead pursuing a deal with several sovereign wealth funds.
In the early hours of yesterday, Prudential confirmed that it was withdrawing from a deal that now leaves it with a bill of US$450 million, covering a break-fee to AIG and payments to its own army of bankers and lawyers…………………………………………Full Article: Source

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