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AIG sells Japan headquarters for $1.2 bn

AIG sells Japan headquarters for $1.2 bn
AP
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First Published: Mon, May 11 2009. 07 10 PM IST
Updated: Mon, May 11 2009. 07 10 PM IST
Charlotte, North Carolina: Embattled insurer American International Group (AIG) is selling its Japanese headquarters to Nippon Life Insurance Co. for $1.2 billion in cash.
The transaction, which would be among the biggest divestitures New York-based AIG has made to reimburse the US government for its massive infusion of aid, is expected to close in the second quarter.
AIG has received $182.5 billion in financial support from the government since September. The company is selling off a number of business units to repay part of the loan.
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First Published: Mon, May 11 2009. 07 10 PM IST