NU Online News Service, March 2, 2:55 p.m. EST
AIG is reportedly selling its stake in private-equity firm Blackstone Group for $500 million, according to CNBC, which cites unnamed sources.
CNBC further states, “Blackstone has long been an adviser to AIG, but the sale marks building tensions between the two firms.”
The buyer is not yet known, CNBC says, adding that the sale was made before the market opened today.
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