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4-Traders Homepage  >  Shares  >  Stock Exchange of Hong Kong  >  AIA Group Ltd    1299

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AIG To Sell Its Shares In AIA Group When Lock-Up Expires In September -Reuters

05/16/2012 | 01:25am US/Eastern

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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