AMERICAN INTERNATIONAL GROUP, INC. (AIG): M&A transaction — AIG deconsolidates Corebridge after stake drops to 48.4%; reports pro forma results as discontinued ops

AMERICAN INTERNATIONAL GROUP, INC.

AIG reduced Corebridge ownership to 48.4% and waived board majority rights on June 9, 2024, ending consolidation.
Historical Corebridge results will be reported as discontinued operations starting Q2 2024; fair value option elected for retained stake.
AIG sold ~5% (30M shares) of Corebridge on May 30, 2024 for $876M; pending sale of 20% to Nippon Life for $3.8B ($31.47/sh) expected Q1 2025.
Pro forma Q1 2024 net income attributable to AIG common shareholders is $2,370M vs. reported $1,194M, reflecting deconsolidation adjustments.
AIG will account for its 48.4% Corebridge interest as an equity method investment at fair value; changes in stock price included in net investment income.

item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

AMERICAN INTERNATIONAL GROUP, INC. completed a disposition involving Corebridge Financial, Inc. (closed 2024-06-09).

Action: disposition
Counterparty: Corebridge Financial, Inc.
Closing: 2024-06-09

Exact text from the filing

(the Company, AIG, our or we), closed on the initial public offering of Corebridge Financial, Inc. (Corebridge), which is traded on the New York Stock Exchange under ticker symbol CRBG.

View on SEC.gov

5 m&a transactions filed in the last 30 days. Browse all m&a transactions →

AMERICAN INTERNATIONAL GROUP, INC. filing history →

Source: SEC EDGAR

accession 0000005272-24-000063

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.