LONDON AP - British insurer Prudential PLC said Monday it will buy the Asian unit of bailed out American International Group Inc. in a deal worth $35.5 billion that will allow AIG to pay back some of the money it owes U.S. taxpayers.AIG, which was kept alive by a $182.5 billion rescue by the U.S. government in September 2008, will get $25 billion in cash - $20 billion of that from a Prudential rights issue - and $10.
March 01, 2010 at 12:00 AM
1 minute read
LONDON AP – British insurer Prudential PLC said Monday it will buy the Asian unit of bailed out American International Group Inc. in a deal worth $35.5 billion that will allow AIG to pay back some of the money it owes U.S. taxpayers.
AIG, which was kept alive by a $182.5 billion rescue by the U.S. government in September 2008, will get $25 billion in cash – $20 billion of that from a Prudential rights issue – and $10.5 billion in new shares and securities for the sale of AIA Group Ltd.
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