Icahn has been pushing AIG to break itself into three separate companies.
American International Group Inc. Said today that it will sell AIG Advisor Group to private equity firm Lightyear Capital LLC and Canadian pension investment manager PSP Investments. Terms were not disclosed.
The company said the IPO for up to 19.9 percent of United Guaranty Corp. Is a first step toward a full separation. AIG also announced that it is looking to cut USD 1.6 billion of expenses within two years.
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