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On 03/08/2010 American International Group, Inc. (NYSE: AIG) announced a definitive agreement for the sale of American Life Insurance Company (Alico), one of the world’s largest and most diversified international life insurance companies, to MetLife, Inc. (MetLife) for approximately $15.5 billion, including $6.8 billion in cash and the remainder in equity securities of MetLife, subject to closing adjustments. The cash portion of the proceeds from this sale will be used to reduce the liquidation preference of the Federal Reserve Bank of New York (FRBNY) in the special purpose vehicle (SPV) formed by AIG and the FRBNY to hold the interests in Alico.

This info was last verified on 11/2/2010. If this information is incorrect please contact us and let us know so that we can make any required changes.