ugg clearance The acquisition

ns or how profitable it is, or how it overlaps with Pru's existing businesses."
The Prudential cash call is underwritten by Credit Suisse (CSGN.VX), HSBC (HSBA.L) and JPMorgan Cazenove, who are also acting as bookrunners. Prudential advisers on the AIA deal also include Lazard Ltd (LAZ.N).
The rights issue is expected to be completed in June, and it is a "reasonable assumption" that the new shares will be offered at a discount of about 40 percent, Thiam said.
FRESH APPROACH
The acquisition, after an initial approach for AIA by Prudential fell through last year because the two sides could not agree on price, marks the company's first major transaction under the charismatic Thiam, who took over the top job in October.
AIG ugg clearance , which received a $182.3 billion taxpayer-funded rescue after its near collapse in September 2008louboutin 2011 spring " Thamrin Sihite, will use $16 billion of the cash portion of the sale proceeds to pay the Federal Reserve Bank of New York for its stake in a special purpose vehicle that holds AIA.
The remaining $9 billion of the cash will be used to pay down the Fed's credit facility, which has an outstanding balance of about $25 billion.
Under the deal, AIG will also receive $10.5 billion in Prudential shares ugg clearance , giving it a stake of about 11 percent, which it plans to sell to further reduce its borrowings.
AIG is also in advanced talks to sell American Life Insurance Co, a foreign life insurance unit ugg clearance , to MetLife Inc (MET.N) for about $15 billion. Between these two deals, AIG could pay down its entire debt to the Fed and may follow the same path as Citigroup Inc (C.N) out from under the U.S. government's wing.
AIG had been planning to float AIA on the Hong Kong stock exchange as an alternative to a disposal.
"In considering two viable, very attractive alternatives to successfully monetize AIA, including an initial public offering, we decided that a sale to Prudential enables AIG to realize value on a faster track to repay U.S. taxpayers ugg clearance ," AIG Chief Executive Robert Benmosche