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Corebridge Financial Announces $150 Million Share Repurchase from AIG and Blackstone
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
buyback
Rhea-AI Summary
Corebridge Financial, Inc. (NYSE: CRBG) announced a $150 million share repurchase agreement with American International Group, Inc. and Blackstone Inc. The repurchase is expected to close on December 18, 2023, at a purchase price of $21.75 per share.
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HOUSTON--(BUSINESS WIRE)--
Corebridge Financial, Inc. (NYSE: CRBG) (“Corebridge”) today announced that it entered into a share repurchase agreement (the “Share Repurchase Agreement”) with American International Group, Inc. (“AIG”) and an affiliate of Blackstone Inc. (“Blackstone”) on December 14, 2023, pursuant to which it will repurchase an aggregate of $150 million of Corebridge common stock (the “Share Repurchase”). Of the $150 million, approximately $135 million will be repurchased from AIG and approximately $15 million will be repurchased from Blackstone. The Share Repurchase is expected to close on December 18, 2023, subject to customary closing conditions.
The purchase price paid by Corebridge was $21.75 per share, the closing price of Corebridge common stock on the New York Stock Exchange immediately prior to entry into the Share Repurchase Agreement.
About Corebridge Financial
Corebridge Financial, Inc. makes it possible for more people to take action in their financial lives. With more than $360 billion in assets under management and administration as of September 30, 2023, Corebridge Financial is one of the largest providers of retirement solutions and insurance products in the United States. We proudly partner with financial professionals and institutions to help individuals plan, save for and achieve secure financial futures. Corebridge Financial common stock is listed on the New York Stock Exchange. For more information, visit corebridgefinancial.com and follow us on LinkedIn and YouTube.
What is the latest announcement from Corebridge Financial, Inc. (NYSE: CRBG)?
Corebridge Financial, Inc. (NYSE: CRBG) announced a $150 million share repurchase agreement with American International Group, Inc. and Blackstone Inc.
When is the share repurchase expected to close for Corebridge Financial, Inc. (NYSE: CRBG)?
The share repurchase is expected to close on December 18, 2023.
What is the purchase price per share for the share repurchase agreement for Corebridge Financial, Inc. (NYSE: CRBG)?
The purchase price paid by Corebridge was $21.75 per share.
Who are the parties involved in the share repurchase agreement with Corebridge Financial, Inc. (NYSE: CRBG)?
The share repurchase agreement involves American International Group, Inc. and Blackstone Inc.
