AIG to sell majority stake in Transatlantic
Speculation over the future of American International Group
(AIG) affiliate Transatlantic Holdings has been put to an end,
after the fallen US insurance giant said it intends to proceed with
a public offering of two thirds of its 59 percent stake in the
property casualty (P&C) reinsurer.
AIG's up-for-sale stake is valued at about $985mn, based on
yesterday's closing price of $37.87.
AIG said it has filed a preliminary prospectus supplement with the
US Securities and Exchange Commission, with respect...
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