Posts Tagged ‘aig’
AIG said to seek up to $20b in Asia unit IPO: Update
AIG said to seek up to $19.6 b in Asia unit IPO: Update
The company plans to sell as many as 5.9 billion shares of AIA Group at HK$18.38 to HK$19.68 each, said the people, who declined to be identified because the discussions are private. The offering represents a stake of about 49 percent of the company, the people said, which would value Hong Kong-based AIA at as much as US$30.6 billion ($40.3 billion).
AIG said to seek up to $19.6b in Asia unit IPO
The company plans to sell as many as 5.9 billion shares of AIA Group at HK$18.38 to HK$19.68 each, said the people, who declined to be identified because the discussions are private. The offering represents a stake of about 49% of the company, the people said, which would value Hong Kong-based AIA at as much as US$30.6 billion ($40.3 billion).
AIG said to seek up to US$14.9b in Asia unit IPO : Update
The insurer plans to sell as many as 5.9 billion shares of AIA Group at a price of HK$18.38 ($3.11) to HK$19.68, said the people, who declined to be identified because the plan is private. New York-based AIG may keep a stake of about 50% of AIA.
Prudential confirms AIG deal terminated
Prudential (PRU.L) (2378.HK) (PRTL.SI) said in a filing to Hong Kong stock exchange that it would not proceed with the rights issue or other financing related to the deal, and would not bring any resolutions to court or shareholder meetings. It added an annual general meeting would go ahead as planned June 7.
Pru deal near collapse as AIG snubs lower offer: Update 2
AIG snubs lower Pru offer, deal in jeopardy: Update
Separately, Prudential said in a statement it had offered to cut the deal’s value to $30.38 billion ($42.6 billion) — offering US$23 billion in cash and about 2.16 billion new Prudential shares.
AIG says will stick to original deal with Prudential
Prudential (2378.HK) (PRTL.SI) and American International Group Inc (AIG) (AIG.N) reopened negotiations last week to salvage the deal after many shareholders said Prudential was overpaying in its move to become Asia’s dominant insurer.
UK’s Prudential wants to pay less to save AIA deal
Prudential (PRU.L) has entered talks to cut its US$35.5 billion offer for AIG’s (AIG.N) Asian life insurance arm in a last-ditch bid to salvage a deal criticised by shareholders as too expensive.
The UK’s biggest insurer wants to cut the price to about US$30 billion, a reduction of 15%, said one source close to the deal, who asked not to be named.
Pru chairman says confident of shareholder approval
The Guy Who Brought Down AIG – and Maybe the World Economy – Gets Off Scott-Free, and Gets to Keep $315 Million in Loot
Jospeh Cassano, the guy who brought down AIG – and maybe the world economy – with trillions in risky derivatives deals which AIG couldn’t back up, is getting prosecuted … and the government will claw back all the money he made, right?Uh, no.In realit…
Congressman Grayson Demands Release of AIG Emails
Congressman Grayson sent the following letter to AIG’s trustee:
March 18, 2010 AIG Credit Facility Trust Trustee Peter A. Langerman Trustee Chester B. Feldberg Trustee Jill M. Considine Arnold & Porter LLP 399 Park Avenue
New York, N…
Prudential Plc, AIG CEOs meet Asia staff; talk AIA future, jobs
Prudential CEO Tidjane Thiam and his AIG counterpart Robert Benmosche are leading a series of ‘town hall’ meetings across Asia that aim to allay concerns among staff of both companies.
UK’s Prudential confirms to buy AIG Asia for US$35.5b
Britain’s Prudential (PRU.L) said it would buy AIG’s (AIG.N) Asian life insurance arm for US$35.5 billion ($50 billion), making it the undisputed foreign leader in one of the world’s fastest-growing financial services markets.
The acquisition of AIA will be funded by a rights issue of US$21 billion including costs and fees, the biggest ever acquisition-related cash call, and by a US$5 billion debt issue, Prudential said on Monday, confirming an earlier Reuters report.
Prudential said to consider issuing over 10% of shares to AIG
Make AIG’s Emails Public
Call or write your Congressional and Senate representatives and tell them that you’re joining the following people in demanding that all of AIG’s emails to be made public, so that we can gain insight into what really caused the financial crisis:William…
Special Inspector: AIG Counterparty VOLUNTEERED to Take a Haircut, But Geithner Refused
I received an advance copy of the Special Inspector General for Tarp’s Report called “Factors Affecting Efforts to Limit Payments to AIG Counterparties”, which will be released tomorrow (posted below).The report reveals that at least one counterparty …
Tavakoli on AIG Swaps: “There’s No Way They Should Have Paid at Par. AIG Was Basically Bankrupt”, and Goldman Sachs CFO Lied About AIG
Derivatives expert Janet Tavakoli made the following comments by email about the Bloomberg article “New York Fed’s Secret Choice to Pay for Swaps Hits Taxpayers”: “There’s no way they should have paid at par,†she says. “AIG was basically ban…
States’ Projected Budget Gap: $166 Billion. AIG Bailout to Cover Gambling Debts: $180 Billion. Portion that Went to Foreign Banks: $40 Billion.
Arianna Huffington writes:America’s states are facing a projected cumulative budget gap of $166 billion for fiscal 2010. Even more budget gaps are expected for fiscal 2011. Total shortfalls through 2011 are estimated at $350 billion to $370 billion -…



