AIG set to exit Corebridge Financial with $710 million stake sale
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AIG is set to sell its remaining stake in Corebridge Financial for approximately $710 million, finalizing a five-year separation. The sale involves around 25 million shares and is expected to close on May 7. AIG previously spun off Corebridge through an IPO in 2022, with CEO Peter Zaffino highlighting the company's transformation into a focused global property and casualty insurer. Following the announcement, Corebridge shares dropped 2.5% in after-hours trading.
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