British Company to Buy AIG's Asian Unit for $35 Billion

Prudential of Britain said Monday that it had agreed to buy American International Group’s life insurance business in Asia in a deal valued at $35.5 billion.

The sale of American International Assurance, which is based in Hong Kong and is commonly known as A.I.A., would lead to the biggest repayment yet toward the more than $180 billion that the U.S. government has invested in A.I.G. as part of a huge series of bailouts. The Federal Reserve Bank of New York, which holds preferred shares in A.I.A., would receive the first $16 billion in proceeds from a sale...

NYT: British Company to Buy AIG's Asian Unit for $35 Billion