Firm Represents AIG in $1.4 Billion Sale of Japanese Headquarters
05.12.09
This is only gets display when printing
The Firm is representing American International Group, Inc. in the sale of the AIG Otemachi Building to Nippon Life Insurance Company for approximately $1.4 billion in cash (¥115,500mm). The property is located in the Marunouchi district, Tokyo’s business center, and is a unique asset as a result of its location next to and overlooking the Imperial Palace. The closing of the sale is subject to customary closing conditions and is scheduled to occur during the second quarter of 2009.
The Firm is representing AIG in several of its asset dispositions as part of its overall restructuring efforts, and this sale is among the largest of these dispositions that has been announced to date.
The Simpson Thacher team working on the transaction includes: Gregory Ressa, Scott Kobak and Erik Quarfordt (Real Estate); David Sneider, Noritaka Kumamoto and Samuel Porter (STB-Tokyo); and John Hart and Kurt Dudas (Tax).