AIG in its $3.8 billion sale of a 20% ownership stake of Corebridge to Nippon Life

On May 16, 2024, American International Group, Inc. (NYSE: AIG) announced that it has reached an agreement to sell approximately 120 million shares of the common stock of Corebridge Financial, Inc. (NYSE: CRBG), representing 20% of the outstanding shares of Corebridge, to Nippon Life Insurance Company for an aggregate purchase price of approximately $3.8 billion. The share sale to Nippon Life represents the latest step in AIG’s successful multi-year strategy, under the leadership of Chairman and CEO Peter Zaffino, to drive value creation though, among other things, creatively structured and thoughtfully executed strategic transactions.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to AIG.