AIG to Buy Stakes in Convex, Onex for More Than $2.7 Billion
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American International Group Inc. struck deals to buy stakes in specialty insurer Convex Group and alternative-asset manager Onex Corp. in transactions that total more than $2.7 billion.
AIG is taking a 35% stake in Convex for $2.1 billion and a 9.9% interest in Onex for about $646 million, according to a statementBloomberg Terminal Thursday. AIG will also invest $2 billion over three years in Onex funds.
Source: Original