AIG may raise $988m selling shares in reinsurer Transatlantic Holdings, reports Bloomberg. The stricken US insurer was forced to scale back plans to sell units in their entirety as the recession eroded the value of insurance assets and made financing costlier for potential buyers. AIG’s stake of about 59% of Transatlantic will be less than 20% after the sale, AIG said last week.

This entry was posted by Gwen Robinson on Friday, June 5th, 2009 at 5:39 and is filed under Capital markets, M&A. Tagged with aig, Transatlantic. Edit this entry.