The board of American International Group approved the sale of the company’s crown jewel, American International Assurance, to Prudential of the U.K. for about $35.5 billion. The sale, along with a separate deal, could generate about $50 billion, half of which will go to the Federal Reserve Bank of New York.
Posts Tagged ‘Crown Jewel’
AIG will sell Asian life insurer to Prudential for $35.5 billion
March 1st, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Acquisition, Aia, Aig, American International Assurance, American International Group, Asian Life, Bank Of New York, Crown Jewel, Federal Reserve, Federal Reserve Bank, Federal Reserve Bank Of New York, Government Officials, Life Insurer, Prudential, Taxpayers, Wsj 
Comments OffTiber Prospect – Gulf Oil Well Discovery Is Deepest in World
September 13th, 2009 Before You Invest 
250 MILES SOUTHEAST OF HOUSTON
BP taps into Tiber Prospect, estimated to have between 4 billion and 6 billion barrels of oil equivalent.
Nearly seven miles below the Gulf of Mexico, oil company BP has tapped into a vast pool of crude after digging the deepest oil well in the world.
The Tiber Prospect is expected to rank among the largest petroleum discoveries in the United States, potentially producing half as much crude in a day as Alaska’s famous North Slope oil field.
The company’s chief of exploration on Wednesday estimated that the Tiber deposit holds between 4 billion and 6 billion barrels of oil equivalent, which includes natural gas.
Posted in Finance Fraud Tags: Bauer College, Crown Jewel, Global Reserves, Global Studies, Gulf Of Mexico, Gulf Of Mexico Oil, Gulf Oil, Horse Development, Last Frontier, Mount Everest, North Slope Oil, Ocean Floor, Oil Deposits, Oil Equivalent, Oil Producers, Petroleum Industry, Seven Miles, Thunder Horse, Tiber, Water Operations No Comments »Morgan Stanley Smith Barney
January 14th, 2009 Before You Invest Citigroup Inc. and Morgan Stanley agreed Tuesday to combine their brokerages in a deal that shows how much Citigroup wants to slim down and build up cash.
Morgan Stanley is paying Citigroup $2.7 billion for a 51 percent stake in the joint venture. Citigroup will have a 49 percent stake.
Citigroup’s retail brokerage, Smith Barney, was once the crown jewel in its wealth management business.
The new unit, to be called Morgan Stanley Smith Barney, will have more than 20,000 advisors, $1.7 trillion in client assets; and serve 6.8 million households around the world, the companies said.
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