The sale of AIG’s Star Life and Edison Life operations may yield more than $3 billion
Prudential Financial has resumed discussions with American International Group (AIG) for the take over of two Japanese insurance units – reported in Bloomberg.
According to the company, the sale of AIG’s Star Life and Edison Life operations may yield more than $3 billion. A rival bid for the units from Manulife Financial is no longer under active discussion. Prudential and AIG are not close to reaching an agreement on a transaction, and the talks could fall apart.
The sale of the Japanese businesses could benefit AIG, after the firm buckled in September and was rescued with a US government bailout worth $182.5 billion.
AIG has announced sale of assets to raise a total of more than $6.7 billion.