Announced March 8, 2010
American International Group, Inc. (AIG) is an international insurance organization with operations in more than 130 countries and jurisdictions. Its subsidiary, American Life Insurance Company (Alico), is a leading international life insurer with a unique heritage of serving customers across the globe for over 85 years.
Blackstone served as independent advisor to AIG, its Board of Directors and the Alico Special Committee on the sale of Alico to MetLife, Inc. (MetLife). In its capacity as independent IPO Advisor, Blackstone helped AIG pursue a dual path IPO process for Alico and assisted the AIG Board in evaluating a sale to MetLife relative to a potential IPO of Alico. MetLife is a leading provider of insurance, employee benefits and financial services with operations throughout the United States and the Latin America, Europe and Asia Pacific regions. The cash and stock transaction was valued at approximately $15.5 billion at announcement, including $6.8 billion in cash and the remainder in equity securities of MetLife.
The acquisition of Alico, one of the world’s largest and most diversified international life insurance companies, accelerates MetLife’s global growth strategy. Upon completion of the transaction, MetLife, which is already the largest life insurer in the United States and Mexico, will become a leading competitor in Japan, the world’s second-largest life insurance market. The transaction materially advances MetLife’s position in Europe. It also moves MetLife into a top five market position in many high growth emerging markets in Central and Eastern Europe, the Middle East and Latin America.