American International Group has begun the process of selling its remaining stake in AIA Group, a deal that would raise about $6.4bn and mark the US insurer’s exit from the Hong Kong-based company.
AIG is offering its 13.7 per cent stake in AIA at between HK$29.65 and HK$30.65 per share, according to bankers familiar with the transaction, representing a discount of 3.2-6.3 per cent to Friday’s closing price.
Shares in AIA were suspended yesterday morning in Hong Kong.
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