| |||||||||||||||||||||||||
| |||||||||||||||||||||||||
 American International Group Inc., which is selling assets to pay back debt related to its massive $150 billion bailout, may consider taking
some units public, according to a Bloomberg report Friday."Instead of flat-out sales for cash, a whole spectrum of deals are being considered," the news service quoted restructuring chief Paula Reynolds as saying. "We could take some things off for another day, we could substitute some other properties to accomplish the endgame. You can consider preparing some businesses for an IPO." AIG has raised $2.3 billion selling off pieces, Bloomberg said. Consider the last two months:
Jan. 26: AIG Global Real Estate unit is putting its fund management business up for sale, but it will likely go for a discount. Analysts said AIG could sell the fund management business for about 75% of the value of the managed assets, or about $9 billion. The Financial Times reported last week that AIG sent a sales memorandum
to a group of prospective bidders on its Asian life assurance unit, hoping to raise up to $20 billion. -- Donna Block and Michael Rudnick
Jan. 28: Zurich's UBS said it would pay $15 million up front and up to $135 million - depending on the target's earnings - over the next 18 months for AIG's commodity index business including AIG's rights to the Dow Jones-AIG Commodity Index. -- Andrew Bulkeley Jan. 13: AIG agreed to sell its Canadian life insurance division to Bank of Montreal for about C$375 million ($305 million) in cash. -- Peter Moreira Jan. 6: AIG hired Moelis & Co. to find a buyer for its International Lease Finance Corp. unit. The unit could fetch $8 billion to $10 billion, according to the London Daily Telegraph. A call Moelis was not immediately returned, and a spokesman from AIG declined comment.. -- Demitri Diakantonis Dec. 22: German reinsurer Munich Re AG agreed to take equipment insurer HSB Group Inc. from American International Group Inc. as the New York group raises funds to repay a massive government bailout. Munich Re said it would pay $742 million for HSB and absorb $76 million in debt from the target, parent of Hartford Steam Boiler Inspection and Insurance Co. -- Andrew Bulkeley Dec. 16: AIG said, its U.S. insurance unit sold residential mortgage-backed securities with a face value of $39.3 billion to an entity backed by the Federal Reserve Bank of New York. -- Donna Block Dec. 10: Polish lender Powszechna Kasa Oszczçednosci Bank Polski SA, or PKO, said it was among the bidders for two local units of AIG. State-controlled PKO said it had made an offer for 99.92% of AIG Bank Polska SA and 100% of AIG Credit SA and is in nonexclusive talks with the New York seller. News outlets have predicted a price of up to 1.5 billion zloty ($493.1 million) for the assets. -- Laura Board Dec. 1: AIG made its first asset sale since its government bailout in September, agreeing to sell a Swiss private bank to Aabar Investments PJSC for Sfr407 million ($336 million). -- Andrew Bulkeley Categories Deal Video
    Community
 Elsewhere on The Deal.comDealwatch
The Deal MagazineCorporate Dealmaker
The Deal VideoCategories
Blog roll
Archives
| |||||||||||||||||||||||||
|
|
|
|
|
©Copyright 2009, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.
