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AIG in talks with Metlife for Alico, say reports

AIG is reported in talks with Metlife to sell its Alico arm to raise as much as $15bn (£9.3bn).

According to reports, AIG has restarted talks with Metlife after an initial deal broke down in March. It says Metlife was originally prepared to offer $11bn (£6.8bn) for the life insurance arm, while AIG was demanding $20bn (£12.4bn).

The reports say the deal is a part of AIG’s strategy to repay $83bn (£51.7bn) back to the Federal Government, which has an 80 per cent stake in the group.

Two weeks ago AIG revealed it was floating Alico and AIA on the Asian stock exchange to raise $15bn.

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