On March 2, 2012, Bloomberg.com reported that American International Group Inc. (NYSE:AIG) had sold a $500 million stake in Blackstone Group LP. (NYSE:BX).
On March 2, 2012, Bloomberg.com reported that American International Group Inc. (NYSE:AIG) had sold a $500 million stake in Blackstone Group LP. (NYSE:BX). New York-based insurer AIG reportedly shed its interest in Blackstone in a block trade before the U.S. markets opened. AIG, which is majority owned by the U.S. government, has sold other businesses to help repay the $182.3 billion 2008 government bailout. In December 2010, AIG converted 35.7 million Blackstone partnership units into common shares and sold 10 million shares for $134.1 million.
To read the complete story, please click here.
