This article talks about the sale of AIG's major global insurance units to Metlife for $15.5 billion. With this this sale being made, Metlife will pay $6.8billion in cash and the rest will be paid in a mix of common and preferred stock to the American Life Insurance Co.
Both boards of directors have approved the sale and expect to close it by the end of the year. According to AIG this sale together with their March 1 sale of American International Insurance to Prudential of Britain would put the company on a track that will generate nearly $51 billion which will go towards reducing its outstanding debt.
This article explains how AIG is doing its best to regain stability and repay taxpayers. The AIG company has made quite a loss over the past year and view these two sales as a positive one that will ultimately help it get back to stable.
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