In its ongoing effort to repay taxpayers, bailed-out insurance giant American International Group in recent days has raised nearly $37 billion through the sale of one of its premier subsidiaries and the initial public offering of another.
AIG announced Monday that it had closed on the sale of one of its crown jewels, American Life Insurance Co., or Alico, which operates in more than 50 countries. MetLife purchased the unit for about $16.2 billion, including $7.2 billion in cash and the remainder in MetLife securities.
Full Story: AIG raises $37 billion from Alico sale, IPO
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