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Article: AIG Closes Its Secondary Offering of Shares in Transatlantic Holdings, Inc.
- Article from:
- Investment Weekly News
- Article date:
- July 4, 2009
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American International Group, Inc. (AIG) announced that it has closed the previously announced public offering of 29.9 million shares of Transatlantic Holdings, Inc. (NYSE: TRH) common stock owned by AIG and its indirect subsidiary, American Home Assurance Company (AHAC) for aggregate gross proceeds of $1.136 billion. TRH will not receive any of the proceeds from the secondary offering.
This transaction enabled AHAC, a subsidiary of AIU Holdings, Inc. (together with AIU Holdings LLC, "AIU Holdings"), to monetize part of its investment in TRH to improve the quality of its capital and help position AIU Holdings for continued success.
The secondary offering ...