AIG Announces the Sale of Its Remaining Stake in Corebridge Financial, Inc.
American International Group, Inc. (NYSE:AIG) today announced that it has agreed to sell approximately 25 million shares of common stock of Corebridge Financial, Inc. (NYSE:CRBG), representing its remaining stake in the company. The sale, which is expected to close on May 7, will result in net proceeds to AIG of approximately $710 million.
Peter Zaffino, Chairman & CEO, AIG, said, "Today's sale of our remaining stake in Corebridge marks the culmination of a five-year separation and a significant milestone in the successful execution of our strategy to exit the life and retirement business. We have transformed AIG into a more focused, leading, global property & casualty insurance company.
