American International Group Inc. (NYSE:AIG) is apparently suspending the sale of its American Life Insurance unit, or Alico, and is instead considering taking it public next year, according to
Bloomberg.
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AIG has halted all financial data communications with two unidentified bidders that could be MetLife Inc. (NYSE:MET) and AXA SA, according to the report. Alico's value is between $10 billion and $50 billion,
CFO Dennis Vigneau told employees.
Alico is one of the assets AIG converted into a trust for its most recent bailout. The IPO could also occur later, depending on market conditions,
Bloomberg reported. -
Maria Woehr
