|AIG CLOSES SECONDARY PUBLIC OFFERING OF SHARES IN TRANSATLANTIC HOLDINGS|
NEW YORK, Mar 15, 2010 -- American International Group, Inc. (AIG) today announced that it has closed the previously announced secondary public offering of 8,466,693 shares of Transatlantic Holdings, Inc. (TRH) common stock owned by American Home Assurance Company (AHAC), a subsidiary of AIG, for aggregate gross proceeds of approximately $452 million.
As previously announced, TRH purchased two million of the shares owned by AHAC in the offering.
Goldman, Sachs & Co., Wells Fargo Securities and BofA Merrill Lynch served as the underwriters of the offering. The underwriters have a 30-day option, exercisable until April 8, 2010, to purchase up to an additional 725,969 shares, the remaining TRH shares held by AHAC.
AIG is a leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services around the world. AIG common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
SOURCE: American International Group, Inc.
American International Group, Inc.