American International Group (NYSE:AIG) has reportedly scrapped plans to sell a strategic stake in its American International Assurance unit, according to Reuters.
Reuters reported that a person familiar with the process said that although four consortiums of Chinese investors have approached AIG about an AIA stake ahead of its IPO, the timeline is too tight for the due diligence that would be required for strategic stakes at this point.
The IPO is expected to take place on the Hong Kong exchange in late October or early November. It is expected to raise about $15 billion.
Reuters reported that the focus will shift to discussions over selling “cornerstone” stakes in AIA prior to the IPO.
AIG has been divesting assets in order to repay its debt to the U.S. government for bailing it out. An earlier deal to sell AIA to UK insurer Prudential (NYSE:PUK) fell through.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
ValueForum has been the most valuable tool I have ever come
Launch related slideshow:
Friday 5/24 Insider Buying Report: PMT, VOCS
Thursday 5/23 Insider Buying Report: MDT, WD
Thursday 5/23 Insider Buying Report: SREV, CYCC
Daily Wrap: May 23, 2013
Ralph Lauren and Perry Ellis Disappoint
Daily Wrap: May 22, 2013
Analyst Moves: CRM, CRUS, MRVL
Analyst Moves: PHM, PG, GPS
Analyst Moves: P, WSM, WFT
Friday Sector Leaders: Education & Training Services, Metals & Mining Stocks
Friday Sector Laggards: Auto Parts, Music & Electronics Stores
Thursday Sector Leaders: Apparel Stores, General Contractors & Builders
Friday's ETF with Unusual Volume: KIE
Friday's ETF Movers: ICLN, LIT
SLV, CHIM: Big ETF Outflows
Daily Dividend Report: ANF, FLS, IPG, A, VNR
Daily Dividend Report: TUP, HD, PCP, CBS, CME
Daily Dividend Report: TMO, AAP, HAS, AINV, HPQ
Midday Report: May 24, 2013
Initial Jobless Claims Fall
Initial Jobless Claims Jump by 32k
Weekly Market Wrap: May 24, 2013
Weekly Market Wrap: May 17, 2013
Weekly Market Wrap: May 10, 2013
Week Ahead Market Report: May 13, 2013
Week Ahead Market Report: May 6, 2013
Week Ahead Market Report: April 29, 2013