Nippon Life completes $3.8B purchase of 21.6% Corebridge stake from AIG; board changes

Corebridge Financial, Inc.

Nippon Life acquired 121.96M CRBG shares from AIG for ~$3.8B cash, now owns 21.6% of Corebridge; AIG retains 22.5%.
Stockholder agreement gives Nippon board designation rights, committee seats, and standstill restrictions until stake falls below 5%.
Alan Colberg elected Chair; Gilles Dellaert (Blackstone) and Minoru Kimura (Nippon) join board; four AIG-designated directors resign.
Board reduced from 13 to 11 members effective with transaction closing.

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