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AIG To Reduce MetLife Stake

U.S. life insurer, MetLife, is seeking to sell 146.8 million shares of its common stock in public offerings.

U.S. life insurer, MetLife, is seeking to sell 146.8 million shares of its common stock in public offerings. MetLife will sell 68.6 million shares of its stock, while ALICO Holdings, a subsidiary of AIG, will offer 78.2 million MetLife shares.

Along with the common stock offerings, AIG is also offering 40 million common equity units of MetLife. Goldman Sachs, Citi and Credit Suisse are the book-running managers for the common stock transaction, while Goldman and Citi are the book-running managers for the common equity unit transaction.

Click here for the release from Business Wire.

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