Metlife to buy Alico part of AIG
American International Group Inc. would sell its foreign life insurance business to one of the biggest players in Insurance in US, the Metlife. The deal was closed at a total of $15.5 million out of which $6.8 million would be given as cash to AIG by Metlife, the rest $8.7 million would be as common stock and convertible preferred securities, as per reliable sources.
The common stock owned by AIG would come to 18% in Metlife and AIG, which is an 80% US government owned company, would have shares with voting restrictions. They cannot influence the operational and business decision.
