Blackstone to acquire $7.3B of AIG insurance and housing business

AIG Insurance - Business deal -handshake

American International Group will be selling a 9.9 percent equity stake in its life and retirement assets. Blackstone will be purchasing AIG insurance and housing business assets representing a 9.9 percent stake and will pay $2.2 billion in cash for the acquisition. The private equity giant and insurer agreed to a “long-term strategic asset management relationship.” The agreement is for an initial $50 billion from the AIG insurance and retirement portfolio, according to the insurer in a statement last week. Additionally, Blackstone will also be paying $5.1 billion for American…

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