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AIG (AIG +0.2%) sold its $500M stake in PE firm Blackstone (BX -2.9%) through a block trade...
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Friday, March 2, 2012, 11:49 AM ETAIG (AIG +0.2%) sold its $500M stake in PE firm Blackstone (BX -2.9%) through a block trade prior to today’s market open, CNBC reports. The sale is part of a capital raise for AIG, as it seeks to pay back the U.S. government from its 2008 bailout. BX has long been an adviser to AIG, but the sale marks building tensions between the two firms.
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Good job, boys!