NEW YORK (
American International Group
CEO Robert Benmosche wants time to explore options besides a public offering for its Asian life unit after a deal to sell it to
of the U.K. for $35.5 billion was terminated, a report says.
Benmosche wants to explore other options for American International Assurance, including selling parts of the business, after AIG's board on Monday voted down a sale to Prudential at a
, a source familiar with the matter told
Prudential reportedly offered a reduced price of $30.4 billion for AIG's Asian business.
AIG hasn't yet decided on what it wants to do with AIA, and an IPO, widely seen as the likely option, is not a foregone conclusion, sources said.
AIG, majority owned by the U.S. government following a $180 billion bailout, planned to use the proceeds from the sale to make a partial repayment to U.S. taxpayers.
-- Written by Joseph Woelfel in New York.
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