AIG to sell 20% stake in Corebridge to Nippon Life
Nippon Life will acquire 122 million Corebridge shares for $31.47 each – marking a 4.3% premium on their May 15 closing price of $30.16 – for a total of close to $3.84bn
The sale is part of AIG’s strategy to divest itself of life and retirement operations to focus on its general insurance business