AIG to Divest 20% Corebridge Stake to Nippon Life for $3.8B

American International Group, Inc. (AIG) announced that the company has agreed to divest around 120 million common stocks of its Corebridge Financial, Inc. (CRBG) subsidiary to Nippon Life Insurance Company. The deal has a total price tag of $3.8 billion, pricing each share at $31.47.The divestment is expected to be finalized by the first quarter of 2025. The shares being sold equate to a 20% ownership stake in CRBG. Per the deal, AIG has committed to holding a 9.9% ownership stake in CRBG for a period of t ...