13 05 2016

American International Group sells $1.2 billion stake in PICC Property and Casualty Co Ltd

Debevoise & Plimpton is advising American International Group in the sale of a $1.2 billion stake in PICC Property and Casualty Co Ltd.


The transaction was undertaken via a block trade in Hong Kong. AIG is a leading global insurance organization serving customers in more than 100 countries and jurisdictions. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange. PICC Property and Casualty is China’s biggest non-life insurer. Debevoise previously advised AIG in two similar deals in March and December of last year, raising $500 million and $750 million, respectively. The Debevoise team advising AIG is led by Hong Kong partner E. Drew Dutton (Picture) and Hong Kong international counsel Brian McKenna, and includes associate Jayne So. Involved fees earner: Drew Dutton - Debevoise & Plimpton; Brian McKenna - Debevoise & Plimpton; Jayne Chi-Wing So - Debevoise & Plimpton;

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