Prudential Financial Inc is nearing a deal to buy American International Group Inc’s two life insurance units in Japan in a deal expected be worth $4 billion to $5 billion.
A deal could be reached in a few days, but could still derail, the Wall Street Journal said, citing unnamed sources.Prudential has been in intermittent talks with AIG about the Japanese units (AIG Edison Life Insurance Co and AIG Star Life Insurance) for a long time. Last October, AIG said it would not sell the two units, but changed its stance earlier this year.
AIG, which is nearly 80 percent owned by the U.S. government and is trying to dispose of assets to repay taxpayers for a massive bailout, declined to comment. Prudential was not immediately available for comment.
