AIG To Sell Its Shares In AIA Group When Lock-Up Expires In September -Reuters
05/16/2012| 01:25am US/Eastern
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American International Group Inc. (AIG) Chief Executive Robert Benmosche said the company will sell its remaining shares of Asian life insurer AIA Group Ltd. (1299.HK) after the lock-up period expires in September, Reuters reported Wednesday.
Benmosche said the sale will reduce AIG's earnings volatility.
AIG sold two-thirds of AIA in a Hong Kong initial public offering in October 2010 and sold about $6 billion of stock earlier this year, leaving it with a stake of about 18.6%.
Full story at http://www.reuters.com/article/2012/05/16/aig-aia-idUSL1E8GG82420120516
-Dow Jones Newswires; 212-416-2900
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