Benzinga | Jul 14, 2021 04:23PM EDT

UPDATE: AIG To Sell 9.9% Equity Stake In Life & Retirement Business To Blackstone For $2.2B, Sell Certain Affordable Housing Assets to Blackstone Real Estate Income Trust, Inc. for $5.1 Billion

- AIG to Sell 9.9% Equity Stake in its Life & Retirement Business to Blackstone for $2.2 Billion

- AIG and Blackstone to Enter into a Strategic Asset Management Relationship for a Portion of the Life & Retirement Investment Portfolio

- AIG to Sell Certain Affordable Housing Assets to Blackstone Real Estate Income Trust, Inc. for $5.1 Billion

- Transactions Provide AIG with Significant Financial Flexibility and Support AIG's Progress toward Separating its Life & Retirement Business