Deals
AIG Raises $3.7 Billion in Cash From Sales of AerCap Stock
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American International Group Inc., the largest commercial insurer in the U.S. and Canada, raised $3.7 billion in cash by selling AerCap Holdings NV stock in a larger-than-planned transaction.
AIG sold about 71.2 million shares in a public offering, the company said Wednesday in a statement. AerCap, an aircraft-leasing company, purchased an additional 15.7 million of its shares from AIG. The New York-based insurer’s stake in AerCap falls to about 5 percent from 46 percent with the sales, after AIG said earlier that it expected to sell 50 million shares in the public offering.