Prudential renounces the acquisition of AIA

Following the refusal of AIG to lower the selling price of its Asian branch AIA 10% Tuesday, the British insurer has finally decided to purchase more than 30 billion dollars. This decision follows weeks of negotiations between Prudential, its partner, British financial authorities but also some shareholders, who felt too heavy redemption fund.

The capital increase of $ 21 million planned by Prudential to fund the acquisition of AIA, has also canceled. The abandonment of the proposed fundraising was announced at last night, a harbinger of the abandonment of the operation, confirmed a few hours overnight pay day loans. The failure of this acquisition is expected to cost 450 million pounds to Prudential, including 152.6 million pounds for breach of contract.

For its part, AIG believes it has "several options to consider about the AIA," In a letter to his employees, Robert Benmosche, CEO of the insurer, owned 80% by the State, in counts " more than we had in March. "

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