The Carlyle Group and T&D Holdings to Acquire Majority Interest in Fortitude Re from AIG for Approximately $1.8 Billion
American International Group, Inc. New (AIG)
Last american international group, inc. new earnings: 2/13 06:45 am
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Source: Business Wire
Transaction provides Fortitude Re with new long-term shareholder base and maintains a strong capital position for supporting its reinsurance obligationsFortitude Re to maintain focus on providing competitive reinsurance and run-off management solutions to the global insurance industryCarlyle to continue its strategic asset management relationships with Fortitude ReT&D to support Fortitude Re’s growth by leveraging its industry experience and networks NEW YORK & TOKYO--(BUSINESS WIRE)--American International Group, Inc. (NYSE: AIG), The Carlyle Group (NASDAQ: CG) and T&D Holdings (TYO: 8795) announced today that a newly created Carlyle-managed fund, together with T&D, have partnered to acquire from AIG a 76.6 percent ownership interest in Fortitude Group Holdings, whose group companies operate as Fortitude Re, for approximately $1.8 billion. After closing, ownership interests in Fortitude Re will include Carlyle and its fund investors at 71.5 percent (including the 19.9 percent stak
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