Bloomberg is reporting that bidders may soon emerge for some Asia-based units of American International Group Inc. (AIG).
The paper names Toronto-based Manulife Financial Corp. and London–based Prudential Plc as potential suitors. The article also says the two companies may team with a sovereign fund based in Singapore to buy another AIG unit, American International Assurance Co.
The inability of AIG to sell off valuable assets has so far hamstrung its efforts to right itself financially. Yesterday, reports surfaced that AIG and government officials were contemplating cutting the company up into three separate companies.
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