(RTTNews) - Insurance major American International Group Inc. (AIG) said that it has completed sale of about 120 million shares of its Corebridge Financial Inc. common stock to Nippon Life Insurance Company for $31.47 per share, for an aggregate purchase price of $3.8 billion.
In May 2024, American International Group announced that it agreed to sell around 20 percent of its Corebridge common stock to Nippon Life Insurance Co. for $3.8 billion. Under the deal terms, AIG agreed to maintain a 9.9 percent ownership stake in Corebridge for two years after the closing.
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