AIG sells final PICC P&C stake for $190mn

AIG has sold its remaining stake in the People's Insurance
Company of China (PICC)'s Hong Kong-listed P&C subsidiary
for approximately HK$1.49bn ($192mn).
The carrier's final stake of 111 million shares was divested
at a price of HK$13.46bper share after the deal was marketed with a
floor price of HK$13.39, Reuters reported.
AIG first purchased the 9.9 percent holding prior to PICC
P&C's Hong Kong IPO in 2003 for between $200mn and $300mn,
and has been selling down its stake since....