American International Group Inc. (AIG) said late Monday that it raised $452 million through the sale of 8.5 million shares of Transatlantic Holdings Inc. (TRH), owned by its subsidiary American Home Assurance Co.
Of the total offered, Transatlantic Holdings bought 2 millon shares, according to AIG. Goldman Sachs & Co., Wells Fargo Securities and BofA Merrill Lynch served as the underwriters for the deal. They also have an option to purchase up to an additional 725,969 shares of Transatlantic Holdings by April 8.
-Sue Chang; 415-439-6400; AskNewswires@dowjones.com