AIG marks end of era with US$6.45b AIA stake sale

American International Group raised US$6.45 billion from the sale of its remaining stake in AIA Group in Asia’s second-largest block sale ever, exiting a business the US insurer started nearly 100 years ago.

The sale, which priced near the top of its indicative range, marks the end of an era for AIG in Asia and its chief executive Robert Benmosche, who took AIA public in Hong Kong in the world’s third-biggest IPO two years ago.

via Business feed http://www.scmp.com/business/companies/article/1107323/aig-marks-end-era-us645b-aia-stake-sale