Simpson Thacher Represents AIG in $4.8 Billion Sale of Japan-based Life Insurance Subsidiaries
09.30.10
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The Firm is representing American International Group, Inc. in its sale of Japan-based life insurance subsidiaries AIG Star Life Insurance Co., Ltd. and AIG Edison Life Insurance Company to Prudential Financial, Inc. for a total purchase price of $4.8 billion, comprising $4.2 billion in cash and $0.6 billion in the assumption of debt. The sale of AIG Star and AIG Edison is an important step in AIG’s program to repay U.S. taxpayers and a key milestone in achieving a complete exit of government support over time.
The Simpson Thacher team is comprised of members of the New York and Tokyo offices and includes: Gary Horowitz, Patrick Naughton, David Sneider, Adam Booken, Kate Renaud, Ikuko Horikawa and David Snowden (M&A); Lori Lesser, Genevieve Dorment and Mindy Lok (Intellectual Property); Gary Mandel, Jonathan Goldstein and Drew Purcell (Tax); and Greg Grogan and Jamin Koslowe (Executive Compensation and Employee Benefits).